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16) Bateman Corporation sold an office building that it used in its business for $800,000. Bateman bought the building ten years ago for $600,000 and has claimed $200,000 of depreciation expense. What is the amount and character of Bateman's gain or loss?
A. $400,000 ordinary gain
B. $40,000 ordinary and $360,000 Section 1231 gain
C. $400,000 capital gain
D. $200,000 ordinary and $200,000 Section 1231 gain
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16) Bateman Corporation sold an office building that it used in its business for $800,000.
Bateman bought the building ten years ago for $600,000 and has claimed...