Calculator Exercise 17-20 Algorithmic) (LO. 1) Aqua Corporation purchases nonresidential real property on May 8, 2016, for $2,930,000. Straight-line cost recovery is taken in the amount of $293,000 before the property is sold on November 27, 2019, for $4,395,000 a. Compute the amount of Aqua's recognized gain on the sale of the realty. b. Determine the amount of the recognized gain that is treated as 5 1231 gain and the amount that is treated as $ 1250 recapture due to $ 291 $ 1231 gain: s $ 1250 recapture due to $ 291: $