Corey owns several apartment buildings. He sold one of the buildings during 2017. He originally paid $900,000 for the building in April 1990. His accountant in 1990 placed the building in service using a 39 year straight-line life. (Ignore the partial year convention for year of placed in service and year of sale). In 2017, Corey sold the building for $1,400,000. What will be the amount and character of Coreys taxable gain from the sale of the building in 2017?

a. $1,123,077 ordinary gain

b. $1,123,077 capital gain

c. $623,076 ordinary gain and $500,000 capital gain

d. $500,000 ordinary gain and $900,000 capital gain

e. $1,400,000 capital gain