Vertical, Inc., a flow through entity, has a $2022$ net $1231$ gain of $$84,000$ and had a $$12,000$ net $1231$ loss in $2021.$ The company also had a $$12,000$ net $1231$ loss in $2020$ and a $$15,000$ net $1231$ loss in $2019.$ All of these prior losses are unrecaptured. For $2022,$ how will Vertical$$s net $1231$ gain be treated $($how much will be treated as ordinary income and how much as long$-$term capital gain$)?$ If Vertical could wait until $2023$ to sell the asset associated with the net $1231$ gain of $$84,000,$ would there be any benefits to the taxpayer $($other than deferring the gain$)?$

Assume that Hamlin Inc., another flow$-$through entity, owns another asset $($equipment used to produce inventory $$ and has incurred no $1231$ losses in the last five years$)$ originally purchased for $$700,000.$ Total depreciation deductions amounted to $$520,000.$ The equipment is sold in $2022$ for $$800,000.$ How much is the recognized gain and what is the character of the gain?