2) In the following transaction (sale of real estate used in business more than 1 year), the taxpayers gain is:

Sales price Real property ........ $150,000

Purchase price ......... 50,000

Depreciation taken, all post 97 ....... 30,000

a. 1231 gain of $130,000

b. Capital gains of $130,000

c. 1231 gain of $100,000, 1250 gain of $30,000

d. 1231 gain of $100,000, 1245 gain of $30,000

e. None of the above