Milt Payner purchased an automobile several years ago for $75,200 and has held it as a personal asset ever since. This year he sold the automobile. Assume the taxable year is 2021. Required: a. Compute Milt's recognized gain or loss on the sale of Milt's amount realized on sale was $64,000. b. Compute Milt's recognized gain or loss on the sale of Milt's amount realized on sale was $81,600. The automobile was a classic Thunderbird and was purchased by a vintage car collector in Boston