Hauswirth Corporation sold (or exchanged) some manufacturing equipment in year 0. Hauswirth bought the machinery several years ago for $67,000 and it has claimed $33,000 of depreciation expense against the equipment.

(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.)

THIS is for 2016 TAX YEAR

a. Assuming that Hauswirth receives $47,300 in cash for the equipment, compute the amount and character of Hauswirth's recognized gain or loss on the sale Recognized Gain/Loss) Character of Recognized Gain/(Loss) Ordinary Gain/(Loss) 1231 gain/(loss) $1231 gain/(loss)