Problem 14-73 (Algorithmic) (LO. 8, 9) Copper Industries (a sole proprietorship) sold three $ 1231 assets during 2022. Data on these property dispositions are as follows: Accumulated Asset Cost Acquired Depreciation Sold For Sold On Rack $70,400 10/10/19 $45,760 $35,200 10/10/22 Forklift 28,160 10/16/19 14,080 10,560 10/10/22 Bin 63,360 03/12/21 21,120 35,200 10/10/22 If an amount is zero, enter "0". a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset. Total Amount of Character of Amount of 5 1245 Balance of Asset Gain or Loss Gain or Loss Recapture Gain or Loss Rack Forklift $ 1231 gain 6 1231 loss Ordinary income Bin Copper has $ of due to $ 1245 recapture and $ of $ 1231 b. Assuming that Copper has $7,040 nonrecaptured net $ 1231 losses from prior years, analyze these transactions and determine the amount (if any) that will be treated as a long-term capital gain