The Hulu Company sold their office building with a $1,000,000 initial cost basis and $814,000 accumulated tax depreciation. They have owned the office building for more than 1 year The Hulu Company is a corporation and their tax depreciation has been computed using an accelerated method. If Hulu Company had used the straight line method of depreciation, it would have had accumulated tax depreciation of 5625,000 The office building was sold for $450,000 Required: 1. How much of Hulu's gain is: Section 1250: Section 291: Section 1231: $ $ $ X 125,000 X 636,000 2. What is the character of Section 291 gain? Ordinary 3. What is the character of Section 1250 gain? Ordianry 4. What is the character of Section 1231 gain