Moran owns a building he bought during year 0 for $223,000. He sold the building in year 6. During the time he held the building he depreciated it by $53,500.

What is the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations? (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable.)

1) Moran received $200,000. (Leave no answer blank. Enter zero if applicable.)

a) Total gain/loss recognized

b) Remaining 1231 gain/loss

2) Moran received $239,000

a) Total gain/loss recognized

b) Remaining 1231 gain/loss

3) Moran received $164,500. (Leave no answer blank. Enter zero if applicable.)

a) Total gain/loss recognized

b) Remaining 1231 gain/loss