In year O. Longworth Partnership purchased a machine for $57,500 to use in its business. In year 3, Longworth sold the machine for $30.800. between the date of the purchase and the date of the sale, Longworth depreciated the machine oy
$27.300. (Loss amounts should be Indicated by a minus sign. Leave no answer blank. Enter zero If applicable.)
a. What are the amount and character of the gain or loss Longworth will recognize on the sale?