Rayburn Corporation has a building that it bought during year 0 for $850,000. It sold the building in year 5. During the time it held the building, Rayburn depreciated it by $100,000.

What is the 1231 gain or loss that will be recognized on the sale if Rayburn Corporation receives $690,000.

What is the 1231 gain or loss that will be recognized on the sale if Rayburn Corporation receives $880,000.

What is the 1231 gain or loss that will be recognized on the sale if Rayburn Corporation receives $830,000.