During the year, FT Corporation sells a building and receives $800,000. The building was originally purchased for $500,000. FT properly took $300,000 of MACRS (straight-line) depreciation.

FT has Sec.1250 depreciation recapture of $300,000.
	FT has a realized gain of $300,000
	FT recognizes a Sec. 1231 gain of $600,000.
	FT recognizes ordinary income of $60,000 and a Sec. 1231 gain of $540,000
	None of the above.