Siena Industries (a sole proprietorship) sold three § 1231 assets during 2018. 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 non-recaptured 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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Sold for Depreciation Asset Sold on Acquired Cost Rack 10/10/14 $100,000 $62,000 $85,000 10/10/18 10/10/18 35,000 Forklift 10/16/15 23,000 5,000 Bin 87,000 03/12/17 34,000 60,000 10/10/18