3. Spaulding sold a building and the land on which the building sits to another company for $300,000 in 2019, where $100,000 of the purchase price was attributed to the building's value and $200,000 of the sales price was attributed to the land's value. Spaulding had had the building constructed in 2013 at a cost of $225,000. Spaulding had purchased the land 11 months before constructing the building for $170,000. As of the date of sale, Spaulding had claimed $75,000 of depreciation expense on the building. The building and land were the only two assets the company sold during the year. Further, assume the company had no prior unrecaptured net Sec. 1231 losses in years 2014-2018. (total of 20 points possible) a) What is the total amount of gain (or loss) on the sale overall in 2019? (10 points) b) What is the character of the gain (or loss) from the sale in 2019? As with #2 above, if there is one that one type of character, state the dollar amount of gain (loss) related to each type of character. (10 points)