Siena Industries (a sole proprietorship) sold three § 1231 assets on October 10, 2019. 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 Cost Acquired Depreciation Sold for Rack $100,000 10/10/15 $62,000 $85,000 Forklift 35,000 10/16/16 23,000 5,000 Bin 87,000 03/12/18 34,000 60,000