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What is the amount and character of bateman gain or loss

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Reference no: EM132877286

Question 1: Bateman Corporation sold an office building that it used in its business for $800,300. Bateman bought the building ten years ago for $599,850 and has claimed $200,450 of depreciation expense. What is the amount and character of Bateman's gain or loss?

Multiple Choice

A- None of the choices are correct.
B- $200,450 ordinary and $200,450 §1231 gain.
C- $40,090 ordinary and $360,810 §1231 gain.
D- $400,900 capital gain.
E- $400,900 ordinary gain.

Reference no: EM132877286

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