Emily,whose tax rate is 32%,owns an office building which she purchased for $900,000 on March 18 of last year.The building is sold for $950,000 on February 20 of this year when the adjusted basis of the building was $876,000.The tax results to Emily are
A)$74,000 1231 gain taxed at 15%.
B)$74,000 ordinary income taxed at 32%.
C)$24,000 1250 unrecaptured gain taxed at 25% and $50,000 1231 gain taxed at 15%.
D)$24,000 1231 gain taxed at 15% and $50,000 ordinary income taxed at 32%.

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The Answer of Emily,whose tax rate is 32%,owns an office building which she purchased for $900,000 on March 18 of last year.The building is sold for $950,000 on February 20 of this year when the adjusted basis of the building was $876,000.The tax results to Emily are
A)$74,000 1231 gain taxed at 15%.
B)$74,000 ordinary income taxed at 32%.
C)$24,000 1250 unrecaptured gain taxed at 25% and $50,000 1231 gain taxed at 15%.
D)$24,000 1231 gain taxed at 15% and $50,000 ordinary income taxed at 32%.

Emily,whose Tax Rate Is 32%,owns an Office Building Which She