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Bateman Corporation sold an office building that it used in its business for $800,700. Bateman bought the building 10 years ago for $599,650 and
Bateman Corporation sold an office building that it used in its business for $800,700. Bateman bought the building 10 years ago for $599,650 and has claimed $201,050 of depreciation expense. What is the amount and character of Bateman's gain or loss? Multiple Choice $402.100 ordinary gain $201,050 ordinary and $201,050 $1231 gain $402.100 capital gain None of the choices are correct. $40,210 ordinary and $361,890 $1231 gain
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