Ginga, LP sold a rental apartment complex for $950,000. Ginga purchased the building in 1991 for a cost of $700,000 and had deducted $100,000 in Section 1250 depreciation through date of sale. Ginga should characterize the $350,000 gain recognized on sale as:

A. All Section 1231 gain subject to the capital gains tax rate. B. $100,000 as unrecaptured Section 1250 gain and a $250,000 Section 1231 loss.

C. All unrecaptured Section 1250 gain.

D. $100,000 as unrecaptured Section 1250 gain and a $250,000 Section 1231 gain.

E. None of the above.