In year $0,$ Javens Incorporated sold machinery with a fair market value of $$640,000$ to Chris. The machinery's original basis was $$499,520$ and Javens's accumulated depreciation on the machinery was $$74,000,$ so its adjusted basis to Javens was $$425,520.$ Chris paid Javens $$64,000$ immediately $($in year $0)$ and provided a note to Javens indicating that Chris would pay Javens $$96,000$ 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 gain will Javens recognize in years $1$ through $6?$