Problem 17-38 (Algorithmic) (LO. 2, 3) Copper Industries (a sole proprietorship) sold three 1231 assets during 2021. Data on these property dispositions are as follows: Accumulated Acquired Depreciation Asset Cost Sold For Sold On Rack $124,400 10/10/18 $80,860 $62,200 10/10/21 Forklift 49,760 10/16/17 24,880 18,660 10/10/21 Bin 111,960 03/12/20 37,320 62,200 10/10/21 If an amount is zero, enter "O". a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset. Total Character of Gain or Loss Amount of Gain or Loss Amount of $ 1245 Recapture Balance of Gain or Loss Asset Rack Forklift Bin If an amount is zero, enter "O". a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset. Total Amount of Amount of Balance of Character of Gain or Loss $ 1245 Recapture Asset Gain or Loss Gain or Loss Rack Forklift Bin Copper has $ of due to 1245 recapture and $ of 1231 b. Assuming that Copper has $12,440 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