The Grape Corporation owns equipment with a $400,000 adjusted basis. The equipment was purchased six years ago for $640,000. Assume Grape sells the equipment for the selling prices given in the three independent cases below. 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 " 0 " for any zero-balances.) Requirement What are the amount and character of Grape's recognized gain or loss? (Assume the adjusted basis of the equipment was calculated using the depreciation that is allowed or allowable.)