The recaptured depreciation would be $56,000.
What is Recapture?
Recapture is a term that the seller of the an asset sets up that gives him or her the right to buy back all or a portion of the assets within a specific time frame. This is how it resembles a repurchase agreement (repo). Recapture also describes a circumstance in which a person must adjust their income to include a deduction from a prior year. Recapture is a term that refers to business dealings involving two and otherwise more parties. It gives a seller the choice to repurchase their assets at a later date after the event has occurred.
To learn more about Recapture
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