You are a financial planner for the Hospitality Group, which owns several hotels in the Pacific Northwest. Thirteen years ago, the Hospitality Group bought a small building as an investment for extra cash. Now, however, cash flow is somewhat lower and the group is looking to sell its investment. The building cost $100,000. It was depreciated using the straight-line method. When the building was originally purchased, it had an estimated life of 25 years. The Hospitality Group has been offered $90,000 for the building. Required: 1. Determine the gain or loss on the sale of the building. 2. Assume that, instead of a building, the Hospitality Group had bought land for $100,000 as an investment, and that this land can be sold for $90,000. Calculate the gain or loss on the sale of the land.