Wymer, Inc. (a C-Corp) sold a building used in their business (and held for greater than one year) for $400,000. Wymer Inc had originally purchased the building for $500,000. Accumulated depreciation at the time of the sale was $140,000. 

As a result of the sale, how much ordinary income will Wymer recognize?

Answer rating: 100% (QA)

1 Adjusted Basis Adjusted Basis Original Cost Accumu... View the full answer