In 1988,Artima Corporation (A C Corporation)purchased an Office Building for $400,000

question 73

Multiple Choice

In 1988,Artima Corporation (a C 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 MACRS depreciation allowed for the building was $390,000.This is the only business asset sold by the corporation over the past six years.As result of the sale,how much ordinary gain will Artima Corporation report?

• A)$390,000
• B)$540,000
• C)$0
• D)$78,000

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Definitions:

Feces

Waste matter discharged from the bowels after food has been digested; excrement.

Stools

Feces; the waste matter discharged from the bowels after food has been digested.

Smooth Muscle

Involuntary, non-striated muscle found within the walls of various organs and structures, such as the intestines, uterus, and blood vessels.

Tongue

A muscular organ in the mouth that is involved in taste, swallowing, and speech.