Larry is the sole proprietor of a trampoline shop. During 2019, the following transactions occurred. For each transaction, what are the amount and nature of recognized gain or loss? If an amount is zero, enter "0". a. Unimproved land adjacent to the store was condemned by the city on February 1. The condemnation proceeds were $15,000. The land, acquired in 1986, had an allocable basis of $40,000. Larry has additional parking across the street and plans to use the condemnation proceeds to build his inventory. There is a loss of $ 0x that is treated as 5 1231 loss Feedback b. A truck used to deliver trampolines was sold on January 2, 2019 for $3,500. The truck was purchased on January 2, 2015, for $6,000. On the date of sale, the adjusted basis was zero. There is a gain Feedback of s ox that is treated as ordinary income under 1245 c. Larry sold an antique rowing machine at an auction. Net proceeds were $4,900. The rowing machine was purchased as used equipment 17 years ago for $5,200 and is fully depreciated. There is a gain of s ox that is treated as ordinary income under 1245