Question: Jonas, an individual, acquired a building nine years ago for $650,000. He sold it in the current year for $680,000 when its adjusted basis was

Jonas, an individual, acquired a building nine years ago for $650,000. He sold it in the current year for $680,000 when its adjusted basis was $500,000. Determine the amount and type of gain or loss realized on the sale
a. If the building is a factory.
b. If the building is an apartment complex.
c. If Jonas is a corporation rather than an individual.

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