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

question 110

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 $390,000;straight-line would have been $360,000.As result of the sale,how much section 1231 gain will Artima Corporation report?

• A)$150,000
• B)$398,000
• C)$510,000
• D)$540,000

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Definitions:

Public Service Announcements

Messages broadcasted to inform or educate the public on issues of public interest without commercial intention.

Mandatory Health Warnings

Compulsory advisories placed on products, such as cigarettes, to inform consumers of health risks.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded for a given period.

Decrease In Demand

A shift in the demand curve to the left, indicating that consumers are willing to purchase less of a product at every price point.