25. Albert Armstrong sells for $600, VVV a business building, which he purchased 14 years ago for $570,000. During the 14 years of ownership, he painted the building at a cost of $7,500, installed an air conditioning system for $60,000, cleaned the carpeting for $3,000, repaired the fence for $5,000, installed permanent bookcases for $40,000, replaced the electrical wiring system at a cost of $150,000, and partitioned off some of the rooms at a cost of $50,000. Albert has taken straight-line depreciation on the building for a total of $420,000. What is his basis in the building at time of sale? What is his realized and recognized gain on the sale of the building? 24. Rex Redd purchased a business building on January 1, 1999, for $975,000 and used the straight-line depreciation over 39 years. He took $25,000 depreciation for 1999 through 2010 and none for 2011 and 2012. He sold the building on January 2, 2013. What is Rex's adjusted basis in the building on January 2, 2013