Siena Industries (a sole proprietorship) sold three § 1231 assets on October 10, 2014. Data on these property dispositions are as follows.

a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset in 2014.
b. Assuming that Siena has no nonrecaptured net § 1231 losses from prior years, how much of the recognized gains are treated as long-term capital gains?

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Cost Acquired Rack $100,000 10/10/10 Forklift 35,000 10/16/11 87,000 03/12/13 Asset Depreciation Sold for $62,000 $85,000 5,000 60,000 23,000 34,000 in