Peyton & Eli, Inc. have the following transactions during $202$X$.$ Assume Peyton & Eli is not a C corporation.

$(1)$ Sale of factory, held more than one year.

FMV at sale $=$ $$520,000$

Original cost $=$ $$405,000$

Straight$-$line depreciation through sale date $=$ $$325,000$

$(2)$ Sale of truck used in business, held more than one year.

FMV at sale $=$ $$5,500$

Original cost $=$ $$24,000$

Depreciation $=$ $$17,990$

$(3)$ Sale of office furniture, held more than one year.

FMV at sale $=$ $$2,000$

Original cost $=$ $$5,400$

Depreciation $=$ $$5,400$

$(4)$ Securities transactions

a$.$ Caterpillar $($held more than one year$)$

FMV at sale $=$ $$38,700$

Adjusted basis $=$ $$32,000$

b$.$ ABC Company $($held more than one year$)$

FMV at sale $=$ $$12,500$

Adjusted basis $=$ $$20,000$

Peyton & Eli, Inc. have unrecaptured Section $1231$ losses of $$15,000$ during the preceding $5-$year period.

$1.$ Calculate the gain$/$loss for each transaction.

$2.$ Determine the character of the gain$/$loss for each transaction $($ordinary income, capital gain, Section $1231$ gain, etc.$)$

$3.$ If Peyton & Eli was a C Corporation, how would your answer change? You can answer this with a sentence, no computation required.