QUESTION 3 In year 0, Longworth Partnership purchased a machine for $40,000 to use in its business. In year 3, Longworth sold the machine for $36,000. Between the date of the purchase and the date of the sale, Longworth depreciated the machine by $22,000. What is the amount of the $1245 ordinary income Longworth will recognize on the sale? QUESTION 4 In year 0, Longworth Partnership purchased a machine for $40,000 to use in its business. In year 3, Longworth sold the machine for $47,000. Between the date of the purchase and the date of the sale, Longworth depreciated the machine by $22,000. What is the amount of the $1231 gain (loss) Longworth will recognize on the sale?