Milt Payer purchased an automobile several years ago for $74,200 and has held it as a personal asset ever since. This year he sold the automobile. Assume the taxable year is 2022. Required: Compute Milts recognized gain or loss on the sale if Milts amount realized on sale was $58,800. Compute Milts recognized gain or loss on the sale if Milts amount realized on sale was $76,800. The automobile was a classic Thunderbird and was purchased by a vintage