Brad sold a rental house that he owned for $253, 500. Brad bought the rental house five years ago for $221, 500 and has claimed $51, 750 of depreciation expense. What is the amount and character of Brad's gain or loss? $32,000 $1231 gain and $51, 750 $1250 gain. $83, 750 capital gain. None of the choices are correct. $32,000 ordinary and $51, 750 $1250 gain. $83, 750 ordinary gain