Required information [The following information applies to the questions displayed below.) Rayburn Corporation has a building that it bought during year for $850,000. It sold the building in year 5. During the time it held the building, Rayburn depreciated it by $100,000 What are the amount and character of the gain or loss Rayburn will recognize on the sale in each of the following alternative situations? (Loss amounts should be indicated by a minus sign. Enter NA If a situation is not applicable. Leave no answer blank. Enter zero if applicable.) a. Rayburn receives $840,000. Amount Description Total Gain/(Loss) Recognized $1231 gain/loss Required information [The following information applies to the questions displayed below.) Rayburn Corporation has a building that it bought during year O for $850,000. It sold the building in year 5. During the time it held the building, Rayburn depreciated it by $100,000. What are the amount and character of the gain or loss Rayburn will recognize on the sale in each of the following alternative situations? (Lose amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) b. Rayburn receives $900,000 Amount Description Total Gain (Loss) Recognized $1231 gainvioss saved Required information [The following information applies to the questions displayed below.) 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 are the amount and character of the gain or loss Rayburn will recognize on the sale in each of the following alternative situations? (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) c. Rayburn receives $700,000. Description Total Gain/(Loss) Recognized Amount $1231 gain/loss