In 1980,Artima Corporation Purchased an Office Building for $400,000 for Use

Multiple Choice

In 1980,Artima Corporation purchased an office building for $400,000 for use in its business.The building is sold during the current year for $550,000.Total depreciation allowed for the building was $350,000; straight-line would have been $320,000.As result of the sale,how much section 1231 gain will Artima Corporation report?

A) $350,000
B) $406,000
C) $320,000
D) $500,000