Required information Problem 03-42 (LO 03-3, LO 03-4) (Algo) [The following information applies to the questions displayed below.] On August 1 of year 0, Dirksen purchased a machine for $28,500 to use in its business. On December 4 of year 0 , Dirksen sold the machine for $24,250. Use MACRS Table. Note: Loss amounts should be indicated by a minus sign. Do not round percentages used for calculations. Round other intermediate computations to the nearest whole dollar amount. Leave no answers blank. Enter zero if applicable. roblem 03-42 Part-b (Algo) Dirksen depreciated the machinery using MACRS (seven-year recovery period). What are the amount and character of the gain or ss Dirksen will recognize on the sale if the machine is sold on January 15 of year 1 instead