Question: Wk 1 - Apply: Week 1 Application Assignme... 3 Bateman Corporation sold an office building that it used in its business for $ 8 0

Wk 1- Apply: Week 1 Application Assignme...
3
Bateman Corporation sold an office building that it used in its business for $800,800. Bateman bought the building 10 years ago for $599,600 and has claimed $201,200 of depreciation expense. What is the amount and character of Bateman's gain or loss?
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Multiple Choice
$40,240 ordinary and $362,160$1231 gain
$201,200 ordinary and $201,200$1231 gain
$402,400 ordinary gain
$402,400 capital gain
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