Question 1 Not yet answered Points out of 2.00 Flag question Coaster, Inc. (a C corporation) sold an office building that it used in its business for $800,000. Coaster bought the building ten years ago for $600,000 and has since claimed $300,000 of depreciation. What is the amount and character of Coaster's gain (loss) on the sale? Select one: O A. $500,000 ordinary gain O B. $60,000 ordinary and $440,000 $1231 gain OC. $250,000 ordinary and $250,000 1231 gain OD. $500,000 capital gain

Coaster, Inc. (a C corporation) sold an office building that it used in its business for $800,000. Coaster bought the building ten years ago for $600,000 and has since claimed $300,000 of depreciation. What is the amount and character of Coaster's gain (loss) on the sale? Select one: A. $500,000 ordinary gain B. $60,000 ordinary and $440,000$1231 gain C. $250,000 ordinary and $250,000$1231 gain D. $500,000 capital gain