The Cooper Corporation is trying to do some year-end tax planning due to a larg

The Cooper Corporation is trying to do some year-end tax planning due to a large bond issue that is coming due. To meet this debt payment Cooper already has sold $4000000 of business assets at a gain of $2000000. It is considering the sale of one of two assets: land valued at $3000000 with a basis of $1250000 or a building valued at $3000000 with a basis of $3300000. Its operating income for the current year is $2000000 without any asset sales. Due to prior profitable years Cooper is subject to the alternative minimum tax and it has $4500000 of positive adjustments and preferences in determining is alternative minimum taxable income. Which asset do you recommend the corporation sell? Explain your reasoning.