Question: CBM Incorporated realized a $ 4 2 9 , 0 0 0 gain on sale of a commercial office building that the corporation placed in

CBM Incorporated realized a $429,000 gain on sale of a commercial office building that the corporation placed in service in1996. Accumulated MACRS depreciation on the complex was $311,800. The entire gain is characterized as Section 1231 gain.True or False

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