Question 13 In 2020, ABC Business sold a warehouse which had been used in the business for more than one year. The in price of the warehouse was $710,000. What is the amount of the gain/loss which ABC will recognize on the s $235,000 gain, of which $225,000 is ordinary income and $10,000 is a Section 1231 long-term capital gai CA $10,000 gain which is ordinary in character B. $10,000 long-term capital gain C. $235,000 gain, of which $225,000 is unrecaptured Sec 1250 gain taxed at 25% and $10,000 is a Section 1 OD Save A 3 points usiness for more than one year. The initial basis of the warehouse was $700,000, and accumulated depreciation was $225,000. The sale loss which ABC will recognize on the sale of the warehouse, and what is the character? is a Section 1231 long-term capital gain axed at 25% and $10,000 is a Section 1231 long-term capital gain