• The land and warehouse and office furniture are sold on June 17, 2020. The purchase price was allocated as follows: $1,600,000 to the land, $7,800,000 to the warehouse. The company originally purchased the property at a cost of 8,000,500. During there ownership they took $678.000 of depreciation expenses. What is the tax liability? Where appropriate assume L/T capital gains is subject to 20%)