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:

Eccrine Sweat Gland

A type of sweat gland that is found all over the body, particularly on the palms, soles, and forehead, and is primarily involved in temperature regulation.

Sebaceous Gland

A type of gland in the skin that secretes an oily substance called sebum, which lubricates hair and skin.

Hair Follicle

The skin organ that produces hair, consisting of a small tubular cavity containing the root of the hair shaft.

Epidermis

The outer layer of cells covering an organism, the epidermis provides protection against the environment and is involved in water retention.