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George owns a warehouse, purchased for $2,000,000 on 7/21/05. On 9/18/20, he sells the building for $3,000,000. Accumulated depreciation at 1/1/20 is $741,460. How much

George owns a warehouse, purchased for $2,000,000 on 7/21/05. On 9/18/20, he sells the building for $3,000,000. Accumulated depreciation at 1/1/20 is $741,460. How much is Georges 1250 gain or loss on the sale?

a. $777,783 gain

b. $741,460 gain

c. None of these

d. $1,000,000 gain

e. $(777,783) loss

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