Brian Brewster Sold Property to a Buyer Who Paid Him

Multiple Choice

Brian Brewster sold property to a buyer who paid him $400,000 cash and assumed an existing mortgage of $150,000. fte property had cost $250,000 and he had made improvements of $50,000. Depreciation of
$100,000 has been claimed and selling expenses were $20,000. What is the amount of gain?

A) $100,000
B) $200,000
C) $250,000
D) $280,000
E) $330,000