Renata Corporation purchased equipment in 2020 for $339,800 and has taken $152,910 of regular MACRS depreciation. Renata Corporation sells the equipment in 2022 for $203,880.

What is the amount and character of Renata's gain or loss?

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Lena is a sole proprietor. In April of this year, she sold equipment purchased four years ago for $33,600 with an adjusted basis of $20,160 for $22,176. Later in the year, Lena sold another piece of equipment purchased two years ago with an adjusted basis of $10,080 for $6,552.

What are the tax consequences of these tax transactions?