Caldwell Corporation sold a factory building for $300,000.The building originally cost $600,000 and had an adjusted basis of $200,000 due to the $400,000 depreciation taken when it was sold.What is Caldwell's Section 1231 gain on the sale of the property?

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The Answer of Caldwell Corporation sold a factory building for $300,000.The building originally cost $600,000 and had an adjusted basis of $200,000 due to the $400,000 depreciation taken when it was sold.What is Caldwell's Section 1231 gain on the sale of the property?

Caldwell Corporation Sold a Factory Building for $300,000