Eleven years ago, Lynn, Incorporated purchased a warehouse for $315,000. This year, the corporation sold the warehouse to Firm D for $80,000 cash and Ds assumption of a $225,000 mortgage. Through date of sale, Lynn deducted $92,300 straight-line depreciation on the warehouse. Required: Compute Lynns gain recognized on the sale of the warehouse. What is the character of this gain? How would your answers change if Lynn was a noncorporate business?