Frank operates a construction business in Dallas,


Frank operates a understanding occupation in Dallas, Texas. On May 1, 2014, Frank purchased a treasury for his occupation. The treasury absorb $500,000. In June 2014, Frank purchased some new equipment for the occupation. The equipment absorb $200,000. Frank took $8,000 of deterioration on the treasury in 2014 and $16,000 in 2015. Frank took $40,000 of deterioration on the equipment in 2014 and $80,000 in 2015. Frank unwavering to vend the treasury and equipment so he could upgrade the occupation. He sold the treasury for $550,000 and the equipment for $220,000 on December 31, 2015. What conclusion to Frank?

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