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Bateman Corporation sold an office building that it used in its business for $800,600. Bateman bought the building 10 years ago for $599,700 and has
Bateman Corporation sold an office building that it used in its business for $800,600. Bateman bought the building 10 years ago for $599,700 and has claimed $200,900 of depreciation expense. What is the amount and character of Bateman's gain or loss? $401,800 ordinary gain $401,800 capital gain None of the choices are correct. $200,900 ordinary and $200,900 $1231 gain $40,180 ordinary and $361,620 $1231 gain
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