Case 2. (2 Marks) GDK sold machinery for $100,000. The machinery had a cost of $70,000 and a note payable attached of $20,000 a) What is GDK's gain r loss? b) If the machinery in a) above had a note payable attached of $40,000 what would be the gain or loss? c) If the machinery in a) above was purchased in 2016 and sold in 2018 will GDK recognize short term capital gain or a long capital gain