13 4.16 points Skipped Problem 08-36 (Static) [LO 8-6, 8-8] Six years ago, Corporation CN purchased a business and capitalized $200,000 of the purchase price as goodwill. Through this year, CN has deducted $74,000 amortization with respect to this goodwill. At the end of the year, CN sold the business for $2,000,000, $250,000 of which was allocable to goodwill. Required: Determine the amount and character of CN's gain from its sale of goodwill. Book References Realized and recognized gain Ordinary income Section 1231 gain Amount