Question & Answer: Bateman Corporation sold an office building that it used in its business for $800,850. Bateman boug…..

Bateman Corporation sold an office building that it used in its business for $800,850. Bateman bought the building ten years ago for $599,575 and has claimed $201,275 of depreciation expense. What is the amount and character of Bateman’s gain or loss? $40,255 ordinary and $362,295 $1231 gain. $402.550 ordinary gain. $402,550 capital gain. $201,275 ordinary and $201,275 section1231 gain. None of the choices are correct.