Brad sold a rental house that he owned for $251,500. Brad bought the rental house five years ago for $223,500 and has claimed $50,750 of depreciation expense. What is the amount and character of Brad's gain or loss?

Multiple Choice

$28,000 ordinary and $50,750 unrecaptured 1250 gain.

$28,000 1231 gain and $50,750 unrecaptured 1250 gain.

$78,750 ordinary gain.

$78,750 capital gain.

None of the choices are correct.