Recognized gain or loss

13. On October 10, 2006, The Raney Company (a sole proprietorship) sold
three § 1231 assets. Data on these property dispositions are as
follows:

 

Asset             Cost             Acquired
      Depreciation            Sold for

Rack                $100,000      10/10/02
        $60,000                      $75,000

Forklift                 35,000      
10/16/03        
 23,000                          5,000

Bin                       87,000      
03/12/05        
 34,000                       60,000

 

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