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What is the amount and character of the gain recognized

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Question - Beige Corporation, a C corporation, purchases a warehouse on August 1, 2002, for $1 million. Straight-line depreciation is taken in the amount of $611,750 before the property is Sold for $1.4 million. What is the amount and character of the gain recognized by Beige on the sale of the realty?

Reference no: EM133042497

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