Required information [The following information applies to the questions displayed below] In year 0 , Canon purchased a machine to use in its business for $56,000. In year 3, Canon sold the machine for $42,000. Between the date of the purchase and the date of the sale, Canon depreciated the machine by $32,000 Note: Loss amounts should be Indicated by a minus slgn. Leave no answers blank. Enter zero if applicable. What are the amount and character of the gain or loss Canon will recognize on the sale, assuming that it is a corporation and the proceeds were increased to $60,000