Moran owns a building he bought during year 0 for $181,000. He sold the building in year 6. During the time he held the building he depreciated it by $53,750. What is the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations?

b. Moran received $204,000.

c. Moran received $121,000.

Description	Amount
Total Gain/(Loss) Recognized
Remaining 1231 gain (loss)

options on middle row are:

Ordinary Income 1245 depreciation

Ordinary income 291

Unrecaptured 1250 gain

unrecaptured 1250 loss