In year 0 , Javens incorporated sold machinery with a fair market value of $440,000 to Chris. The machinery's original basis was $347.820 and Javens's accumulated depreciation on the machinery was $54,000, so its adjusted basis to Javens was $293,820. Chris paid Javens $44,000 immediately (in year 0 ) and provided a note to Javens indicating that Chris would pay Javens $66,000 a year for six years beginning in year 1 . Required: a. What are the amount and character of the gain that Javens will recognize in year 0 ? b. What amount and character of the goin will Javens recognize in years 1 through 6 ? Complete this question by entering your answers in the tabs below. What are the amount and character of the gain that Javens will recognize in year 0 ? Note: Do not round intermediate computations. Complete this question by entering your answers in the tabs below. What amount and character of the gain wid Javens recognize in years 1 through 6 ? Note: Do not round intermediate computations