Melissa, an individual, owns a business and has the following assets in service at the end of 2021. She has never sold a 1231 asset. Melissa would like to take the $179 deduction this year if allowed, but would like to opt out of bonus depreciation. She has not taken either in previous years. She has no taxable income limitations. Asset Cost Previously purchased assets: Recovery period Date placed in service Furniture 32,000 7 February 2019 Land 200,000 ? August 2019 Industrial machine 286,000 5 October 2019 Apartment building 3,000,000 ? October 2019 Assets purchased this year: Delivery truck Machinery 310,500 5 January 2021 2,470,000 7 August 2021 Related to the above information, assume Melissa sold the building (purchased in October 2019) for $4,200,000 in cash on March 15th, 2021. The buyer also assumed the remaining $70,000 mortgage liability on the property. What is the amount and character of any resulting gain/(loss) for the individual item? Ignore the year-end netting and 1231 look-back rule for this calculation