Siena Industries (a sole proprietorship) sold three § 1231 assets during 2021. Data on these property dispositions are as follows:

a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset.

b. Assuming that Siena has no nonrecaptured net § 1231 losses from prior years, analyze these transactions and determine the amount (if any) that will be treated as a long-term capital gain.

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Asset Rack Forklift Bin Cost Acquired $100,000 10/10/17 35,000 10/16/18 87,000 03/12/20 Accumulated Depreciation $62,000 23,000 34,000 Sold for $85,000 5,000 60,000 Sold on 10/10/21 10/10/21 10/10/21