On March 1, 2016, Matt, an individual, sold an office bulding for $300,000 that had an adjusted basis of $220,000, resulting in an $80,000 gain. Matt had purchased the building for $260,000 on April 1, 2015, and $30,000 of the total depreciation taken took advantage of a special tax incentive program Matt qualified for. How should matt report this gain on his 2016 tax return?

a. $80,000 ordinary gain

b. $30,000 ordinary gain and $50,000 long term capital gain

c. $50,000 ordinary gain and $30,000 long term capital gain

d. $40,000 ordinary gain and $40,000 long term capital gain