In year 0, Longworth Partnership purchased a machine for $55,500 to use in its business. In year 3, Longworth sold t machine for $38,600. Between the date of the purchase and the date of the sale, Longworth depreciated the machin $28,200. (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) Problem 11-41 Part-a a. What is the amount and character of the gain (loss) Longworth will recognize on the sale? Description Amount Total Gain(Loss) Recognized Character of Recognized Gain/(Loss): Ordinary Gain/(Loss) 1231 gain/(loss)