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Aqua Corporation purchases nonresidential real property on May 8 , 2 0 1 9 , for $ 2 , 8 4 0 , 0 0

Aqua Corporation purchases nonresidential real property on May 8,2019, for $2,840,000. Straight-line cost recovery is taken in the amount
of $284,000 before the property is sold on November 27,2022, for $4,260,000.
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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