The Lapointe Corporation placed in service \($350,000\) of used equipment (seven-year recovery property) on June 3, 2022 and elected to expense \($250,000\) as Sec. 179 depreciation expense but elected out of bonus depreciation. La Point sold the equipment for \($150,000\) on November 22, 2023. Determine the following:

a. Depreciation allowed in 2022

b. Depreciation allowed during 2023

c. Amount of gain or loss and character