Problem 8-41 (LO, 7) Heron Company purchases commercial reaity on November 13, 2004, for $650,000. Straight-line depreciation of $287,492 is claimed before the property is sold on February 22,2022 , for $850,000. What are the tax consequences of the sale of realty if Heron is (a) a c corporation and (b) a sole proprietorship? a. If Heron is a c corporation, what is the amount of each type of pain recognized? If an amount is zero, enter " 0 ", Round your answers to the nearest dollar. Character of Gain Ordinary income under $1245 \$ Ordinary income under $1250$ Ordinary income under 5291 51231 gain Total recognized gain 5 b. If Heron is a sole proprletorship, what is the amount of each type of gain recognized? Character of Gain Ordinary income under $124$ Ordinary income under 51250 \$ Ordinary income under $291 \$ 1231 gain Total recognized gain $ 3 more Check My Work uses ramaining