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Aqua Corporation purchases nonresidential real property on May 8, 2019, for $1,230,000. Straight-line cost recovery is taken in the amount of $123,000 before the property

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Aqua Corporation purchases nonresidential real property on May 8, 2019, for $1,230,000. Straight-line cost recovery is taken in the amount of $123,000 before the property is sold on November 27,2022 , for $1,845,000. a. Compute the amount of Aqua's recognized gain on the sale of the realty. $ b. Determine the amount of the recognized gain that is treated as 1231 gain and the amount that is treated as 1250 recapture (ordinary income due to 291 ). 1231 gain: $ 1250 recapture (ordinary income due to 291): \$

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