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Required Information [The following information applies to the questions displayed below.] On August 1 of...

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Required Information [The following information applies to the questions displayed below.] On August 1 of year 0 , Dirksen purchased a machine for $42,500 to use in Its business. On December 4 of year 0 , Dirksen sold the machine for $35,000. Use MACRS Table. (Loss amounts should be Indlcated by a minus sign. Do not round percentages used for calculations. Round other Intermedlate computatlons to the nearest whole dollar amount. Leave no answer blank. Enter zero If applicable.) o. DIrksen depreclated the machinery usIng MACRS (seven-year recovery perlod). What are the amount and character of the galn or oss Dirksen will recognize on the sale If the machine is sold on January 15 of year 1 Instead

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