On September 29, 2009, Tripper Mansfield sold rentail property for $230,000. Five percent of the sales price was allocated to furnishings. Mansfield originally purchased the home (a condominium) as his principle residence back in 1992. He paid $160,000 for the home and spent $35,000 on its furnishings. From 1992-2002, Mansfield made improvements to the home totaling $34,000. On March 4, 2003, he converted the home to rental property. The fair market value (FMV) of the home itself at the time of the conversion was $182,000. The FMV of the furnishing were $5,000. Mansfield used MACRS to depreciate both the condo and its furnishings. No bonus depreciation or Section 179 expense was taken on the furnishings. This was the only depreciable property Mansfield placed in service during 2003. Compute Mansfield's recognized gain or loss on the sale of the home and on the sale of its furnishing.