Aqua Corporation purchases nonresidential real property on May 9, 2012, for $2,780,000. Straight-line cost recovery is taken in the amount of $278,000 before the property is sold on November 30, 2015, for $4,170,000.

a. Compute the amount of Aquas 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 due to 291. 1231 gain: $ 1250 recapture due to 291: $