Simmons Company (a C Corporation) purchases commercial realty on November 13, 2001, for $950,000. Straight-line depreciation of $452,381 is claimed before the property is sold on March 16, 2016, for $1,350,000. What is the amount and character of the recognized gain?

Using the same facts from the problem above, what amount, if any, of the gain must be recaptured pursuant to IRC 1250 if Simmons Company, a C Corporation, acquired the property on November 13, 1986, cost recovery equals $895,118, and straight-line depreciation for the same period equals $874,762?