The Lemon Corporation own equipment with a $280,000 adjusted basis. The equipment was purchased six years ago from $670,000. Assume lemon sells the equipment for the selling prices given in three independent cases below:

Selling Price

Case A. $424,000

Case B. 797,000

Case C. 244,000

Begin by entering the amount of the recognized gain for each case. Then enter the character of the gai Recaptured Recognized Gain Ordinary Gain Sec. 1231 Gain Selling Price (Loss) (Loss) (Loss) Case A $424,000 Case B $797,000 Case C $244,000