The Apple Corporation owns equipment with a $280,000 adjusted basis. The equipment was purchased six years ago for $670,000. Assume Apple sells the equipment for the selling prices given in the three independent cases below. (Click the icon to view the three independent cases.) Read the requirement. Begin by entering the amount of the recognized gain for each case. Then enter the character of the gain or loss for each case. (Use a minus sign or parentheses to enter a loss. Complete all input fields. Enter a "O" for any zero-balances.) Sec. 1231 Gain (Loss) Case A Recaptured Recognized Gain Ordinary Gain Selling Price (Loss) (Loss) $244,000 $413,000 $707,000 Case B Case C Data Table Requirement Selling Price Case A $ What are the amount and character of Apple's recognized gain or loss? (Assume the adjusted basis of the equipment was calculated using the depreciation that is allowed or allowable.) Case B 244,000 413,000 707,000 Case C Print Done Print Done Enter any number in the edit fields and then click Check