Hauswirth Corporation sold (or exchanged) a warehouse in year O. Hauswirth bought the warehouse several years ago for $65,000, and it has claimed $23,000 of depreciation expense against the building. Note: Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Round your final answers to the nearest whole dollar amount. Required: a. Assuming that Hauswirth receives $50,000 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. b. Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some land with a fair market value of $50,000, compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land. c. Assuming that Hauswirth receives $20,000 in cash in year 0 and a $50,000 note receivable that is payable in year 1, compute the amount and character of Hauswirth's gain or loss in year O and in year 1. Complete this question by entering your answers in the tabs below. Required a Required b Required c Assuming that Hauswirth receives $50,000 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. Recognized Gain or (Loss) $ 8,000 Character of Recognized Gain or (Loss): Ordinary Gain or (Loss) 1231 gain or (loss) Complete this question by entering your answers in the tabs below. Required a Required b Required c Assuming that Hauswirth receives $20,000 in cash in year 0 and a $50,000 note receivable that is payable in year 1, compute the amount and character of Hauswirth's gain or loss in year 0 and in year 1. Note: Round "Gross Profit Percentage" to 2 decimal places. Sales price Description Original Basis Accumulated Depreciation Adjusted Basis Gain (Loss) Realized Depreciation Recapture Gain Eligible for Installment Reporting Gross Profit Percentage 1231 gain recognized in year 0 Amount Character $ 70,000 $ 65,000 $ 23,000 SA $ 42,000 EA $ 28,000 Ordinary Income % Section 1231 gain 1231 gain recognized in year 1 Section 1231 gain Required b Required c