Saved 9 Problem 11-38 (LO 11-1, LO 11-2) (Algo) 25 Franco converted a building from personal to business use in May 2018 when the fair market value was $77,500. He purchased the building in July 2015 for $124.000. On December 15 of this year, Franco sells the building for $62,000. On the date of sale, the accumulated depreciation on the building is $7.815. What is Franco's recognized gain or loss on the sale? Los recognized Book ASH C