Caldwell Corporation Sold a Factory Building for $300,000 That It

Multiple Choice

Caldwell Corporation sold a factory building for $300,000 that it originally purchased for $600,000.It had an adjusted basis of $200,000 due to having taken $400,000 of depreciation.What is Caldwell's Section 1231 gain on the sale of the property?

A) $400,000
B) $300,000
C) $100,000
D) $80,000