The following information applies to the questions displayed below In year Longworth Partnership purchased a machine for $$43,500$ to use in its businessyear $3,$ Longworth sold the machine for $$34,000$Between the date of the purchase and the date of the saleLongworth depreciated the machine by $$24,800$ Note: Loss amounts should be indicated by a minus sign. Leave no answers blank $.$ Enter zero if applicable. b $.$ What are the amount and character of the gain or loss Longworth will recognize on the sale if the sale proceeds are increased to $ $50,500?$