LO.1, 2, 3 Siena Industries (a sole proprietorship) sold three § 1231 assets during 2012. Data on these property dispositions are as follows:

Asset Cost Acquired Depreciation Sold for Sold on Rack $100,000 10/10/08 $62,000 $75,000 10/10/12 Forklift 35,000 10/16/09 23,000 5,000 10/10/12 Bin 87,000 03/12/11 34,000 60,000 10/10/12

a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset.

b. Assuming that Siena has no nonrecaptured net § 1231 losses from prior years, how much of the 2012 recognized gains is treated as capital gains?