Siena Industries (a sole proprietorship) sold three ? 1231 assets during 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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Accumulated Sold for Depreclation Sold on Asset Cost Acqulred 10/10/15 10/16/16 03/12/18 10/10/19 10/10/19 10/10/19 Rack $100,000 35,000 87,000 $85,000 $62,000 Forklift Bin 60,000 34,000