In year o, Javens Inc. sold machinery with a fair market value of $620,000 to Chris. The machinery's original basis was $484.840 and Javens's accumulated depreciation on the machinery was $72,000, so its adjusted basis to Javens was $412,840. Chris paid Javens $62,000 immediately in year O) and provided a note to Javens indicating that Chris would pay Javens $93,000 a year for six years beginning in year 1 0.25 points a. What is the amount and character of the gain that Javens will recognize in year o? b. What amount and character of the gain will Javens recognize in years 1 through 6? eBook Complete this question by entering your answers in the tabs below. Print Required A Required B What is the amount and character of the gain that Javens will recognize in year 0? (Do not round intermediate computations.) References Description Amount Recognized Gain $ 72,000 Character of Recognized Gain: Ordinary Gain $ 13,516 $1231 gain $ 85,516 Required A Required B