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Exercise 8-6 (Algorithmic) (LO. 6, 7) Renata Corporation purchased equipment in 2021 for $244,800 and has taken $110,160 of regular MACRS depreciation. Renata Corporation

Exercise 8-6 (Algorithmic) (LO. 6, 7) Renata Corporation purchased equipment in 2021 for $244,800 and has taken $110,160 of regular MACRS depreciation. Renata Corporation sells the equipment in 2023 for $146,880. What is the amount and character of Renata's gain or loss? Renata Corporation has a gain of $ of which $ is treated as ordinary income due to

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