Booth Corporation sells a building classified as a residential rental property for $200,000. The MACRS straight-line depreciation taken is $20,000 and the adjusted basis of the building is $170,000. Booth Corporation must recognize the ordinary income of:

A. $20,000.

B. $30,000.

C. $0.

D. $4,000.

Answer rating: 100% (QA)

Answer The correct answer is as follows Sales price o... View the full answer