Problem relating to depreciation expense

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Reference no: EM13130329

Bateman Corporation sold an office building that it used in its business for $800,000. Bateman bought the building ten years ago for $600,000 and has claimed $200,000 of depreciation expense. What is the amount and character of Bateman's gain or loss?

A. $40,000 ordinary and $360,000 Section 1231 gain

B. $400,000 capital gain

C. $400,000 ordinary gain

D. $200,000 ordinary and $200,000 Section 1231 gain

Reference no: EM13130329

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