Edwardo originally contributed $270,000 in cash for a one-fourth interest in the Sunshine LLC. During the several years that Edwardo was a member of the LLC, his share of the LLC's income was $162,000 and he withdrew $108,000 cash. The LLC's liabilities are $135,000, of which Edwardo's share is $33,750. The LLC has $67,500 of hot assets, of which Edwardo's share is $16,875. Edwardo sells his LLC interest to Whitney for $356,400 cash, with Whitney also assuming Edwardo's share of the LLC's liabilities How much is Edwardo's gain on the sale, and what is its character? Edwardo's total gain on the sale is s of which s recognized as a long-term capital gain. is recognized as ordinary income, with the remaining $