17-38 (Algorithmic) (LO. 2, 3) Copper Industries (a sole proprietorship) sold three 1231 assets during 2021. Data on these property dispositions are as follows: Accumulated Asset Cost Acquired Depreciation Sold For Sold On Rack Forklift Bin $198,800 10/10/18 79,520 10/16/17 178,920 03/12/20 $129,220 $99,400 10/10/21 39,760 29,820 10/10/21 59,640 99,400 10/10/21 If an amount is zero, enter "0". a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset. Asset Character of Gain or Loss Rack Ordinary income Forklift 1231 loss Bin Ordinary income Copper has $ Total Amount of Gain or Loss Amount of 1245 Recapture Balance of Gain or Loss of ordinary income due to 1245 recapture and $ of 1231 gain b. Assuming that Copper has $19,880 nonrecaptured net 1231 losses from prior years, analyze these transactions and determine the amount (if any) that will be treated as a long-term capital gain