In year o, Javens Inc sold machinery with a fair market value of $430,000 to Chris. The machinery's original basis was $340,560 and Javens's accumulated depreciation on the machinery was $53,000, so its adjusted basis to Javens was $287560 Chris paid Javens $43.000 immediately in year o) and provided a note to Javens indicating that Chris would pay Javens $64.500 a year for six years beginning in year 1 a. What are the amount and character of the gain that Javens will recognize in year o? b. What amount and character of the gain will Jovens recognize in years 1 through 6? Complete this question by entering your answers in the tabs below. Required A Required B What are the amount and character of the gain that Javens will recognize in year 02 (Do not round intermediate computations) Amount Description Recognized Gain Character of Recognized Gain Ordinary Gain $1231 gain HA Required B > In year o Javens Inc. sold machinery with a fair market value of $430,000 to Chns. The machinery's original basis was $340,560 and Javens's accumulated depreciation on the machinery was $53,000, so its adjusted basis to Javens was $287560 Chris pald Javens $43.000 immediately in year O) and provided a note to Javens indicating that Chris would pay Javens $64.500 a year for six years beginning in year 1 a. What are 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? Complete this question by entering your answers in the tabs below. Required A Required B What amount and character of the gain will Javens recognize in years 1 through 67 (Do not found intermediate computations.) Recognized gain from years 1 through (Required A Red