Assume that there is building that John owns that the purchaser of the business does not want to buythat was originally purchased for $350,000 and that the land was allocated as $200,000 and the building as $150,000. If sold today, assume theaccumulated depreciation taken is $83,726.

If the sales price of the building is $1,000,000, what is the Section 1250 gain and the Section 1231 gain that would be reported?

What is the tax rate that the section 1250 gain be reported at?

What is the tax rate that the section 1231 gain be reported at?