! Required information Determine the amount of any depreciation recapture (DR), capital gain (CG), or capital loss (CL) generated by each event described below. Use the result to determine the income tax effect, if Te = 31.5%. A Modified Accelerated Cost Recovery System (MACRS)-depreciated asset with a 7-year recovery period was sold after 8 years at an amount equal to 25.00% of its first cost of $125000. The amount of depreciation recapture (DR) generated is determined to be $ 93,750.00 The amount of taxes generated is determined to be $ 29,531.25