J acquired an apartment building a few years ago for $240,000. The cost of the entire property was allocated as follows: Land - $80,000: Building - $160,000. The UCC of the building as of the beginning of this year was $144,500, and the net rental income for last year was $4,800. J turned 65 years old this year and decided to begin his retirement by selling his apartment building. He received $280,000, $100,000 of which was allocated to the land and $180,000 to the building. Which of the following statements is TRUE?

a. J must report recaptured CCA of $20,000

b. J must report recaptured CCA of $40,000

c. J must report recaptured CCA of $15,500

d. J must report recaptured CCA of $4,800