Joel sold the following assets during the year: (assume all the business assets are long term and qualify as 1231 assets) Asset ST Stock LT Stock LT Collectibles Business Building Business Machinery Business Computers Cost 13,000 25,000 6,000 75,000 50,000 110,000 Accumulated Depreciation -0- -0- -0- 30,000 (SL) 10,000 60,000 Sold for 7,000 3,000 8,000 90,000 30,000 90,000 Joel also had significant damage to his business warehouse due to a tornado. His loss was $30,000, but his insurance company paid him $45,000 from his policy. Determine the amount and the character of the recognized gain or loss from the disposition of these assets.