Yellow Corporation, a C corporation, purchases a building on July 1,2008 , for $1,000,000. Straightline depreciation is taken in the amount of $425,000 before the property is sold on May 12, 2023, for $1,200,000. What is the amount and character of the gain recognized by Yellow on the sale of the realty? Ordinary income of $115,000 and 1231 gain of $510,000. Ordinary income of $0 and 1231 gain of $625,000. Ordinary income of $85,000 and 1231 gain of $540,000. Ordinary income of $425,000 and 1231 gain of $200,000. Yellow Corporation, a C corporation, purchases a building on July 1,2008 , for $1,000,000. Straightline depreciation is taken in the amount of $425,000 before the property is sold on May 12, 2023, for $1,200,000. What is the amount and character of the gain recognized by Yellow on the sale of the realty? Ordinary income of $115,000 and 1231 gain of $510,000. Ordinary income of $0 and 1231 gain of $625,000. Ordinary income of $85,000 and 1231 gain of $540,000. Ordinary income of $425,000 and 1231 gain of $200,000