7 Part 1 of 2 Required Information The following information applies to the questions displayed below) In year 0. Longworth Partnership purchased a machine for $48.000 to use in its business. In year 3, Longworth sold the machine for $41,100. Between the date of the purchase and the date of the sole Longworth depreciated the machine by $28.400 (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable) Skipood Hint c. What is the amount and character of the gain or loss Longworth will recognize or the sale if the sole proceeds are decreased to $12.000 (before the 51231 netting process, if applicable)? Amount Description Total Gain (Loss) Recognized Character of Recognized Gain (Loss) Ordinary Gail (L) 51231 anos)