1. Ken sold a rental property for $500,000. He received $100,000 in the current year and $100,000 each year for the next four years. Of the sales price, $400,000 was allocated to the building, and the remaining $100,000 was allocated to the land. Ken purchased the property several years ago for $300,000. When he initially purchased the property, he allocated $225,000 of the purchase price to the building and $75,000 to the land. Ken has claimed $25,000 of depreciation deductions over the years against the building. Ken had no other sales of 1231 or capital assets in the current year. a. State the issue. b. State your conclusion based on your ndings. c. Provide an analysis explaining why you believe your ndings address the question at hand. d. Provide proper tax research citations in your analysis. a