On June 1, 2011, Skylark Enterprises (not a corporation) acquired a retail store building for $500,000 (with $100,000 being allocated to the land). The store building was 39-year real property, and the straight-line cost recovery method was used. The property was sold on June 21, 2015, for $385,000.

The cost recovery is $----, and the adjusted basis for the building is $----.

There is $---- of recognized SelectlossgainCorrect 2 of Item 2 on the sale of the property, of which SelectnoneallCorrect 3 of Item 2 is subject to 1250 recapture.