Siena Industries (a sole proprietorship) sold three § 1231 assets on October 10, 2017. 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 2017.
b. Assuming that Siena has no non-recaptured net § 1231 losses from prior years, how much of the recognized gains are treated as long-term capital gains?

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Depreciation Sold for Asset Rack Acquired 10/10/13 10/16/14 03/12/16 Cost $100,000 35,000 87,000 $62,000 23,000 34,000 $85,000 5,000 60,000 Forklift Bin