Umair sold some equipment he used in his business on August 29,2021 , that was originally purchased for $52,000 on November 21 , 2019. The equipment was depreciated using the 7-year MACRS method for a total of $13,798. Assume there is no additional netting of gains and losses for this taxpayer. Required: a. Assume Umair sold the equipment for $37,000 : 1. What is the amount of realized gain or loss on the sale of the equipment? 2. Is the nature of the gain or loss considered ordinary or long-term? b. Assume Umair sold the equipment for $43,000 : 1. What is the amount of realized gain or loss on the sale of the equipment? 2. Is the nature of the gain or loss considered ordinary or long-term? Complete this question by entering your answers in the tabs below. a1. Assume Umair sold the equipment for $37,000. What is the amount of realized gain or loss on the sale of the equipment? b1. Assume Umair sold the equipment for $43,000. What is the amount of realized gain or loss on the sale of the equipment? Umair sold some equipment he used in his business on August 29,2021 , that was originally purchased for $52,000 on November 21 , 2019. The equipment was depreciated using the 7-year MACRS method for a total of $13,798. Assume there is no additional netting of gains and losses for this taxpayer. Required: a. Assume Umair sold the equipment for $37,000 : 1. What is the amount of realized gain or loss on the sale of the equipment? 2 . Is the nature of the gain or loss considered ordinary or long-term? b. Assume Umair sold the equipment for $43,000 : 1. What is the amount of realized gain or loss on the sale of the equipment? 2. Is the nature of the gain or loss considered ordinary or long-term? Complete this question by entering your answers in the tabs below. a2. Assume Umair sold the equipment for $37,000. Is the nature of the gain or loss considered ordinary or long-term? b2. Assume Umair sold the equipment for $43,000. Is the nature of the gain or loss considered ordinary or long-term