C. Rayburn receives $700,000. & Answer is not complete. Amount Description Total Gain/(Loss) Recognized NA $ 0 $1231 gain/loss Rayburn Corporation has a building that it bought during year o for $850,000. It sold the building in year 5. During the time it held the building Rayburn depreciated it by $100,000. What is the amount and character of the gain or loss Rayburn will recognize on the sale in each of the following alternative situations? (Lo amounts should be indicated by a minus sign. Enter NA if a situation i not applicable. Leave no answer blank. Enter zero if applicable.) b. Rayburn receives $900,000. Amount Description Total Gain/(Loss) Recognized Ordinary Income - $291 depreciation recapture $1231 gain/loss