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LO 8.8 16. Jeanie acquires an apartment building in 2007 for $250,000 and sells it for $500,000 in 2018. At the time of sale there

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LO 8.8 16. Jeanie acquires an apartment building in 2007 for $250,000 and sells it for $500,000 in 2018. At the time of sale there is $75,400 of accumulated straight-line depreciation on the apartment building. Assuming Jeanie is in the highest tax bracket for ordinary income and the Medicare tax applies, how much of her gain is taxed at 28.8 percent? a. None b. $325,400 c. $250,000 d. $174,600 e. $75,400

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