Buzz Corporation sold an office building that it used in its business for $501,000. Buzz bought the building 10 years ago for $649,500 and has claimed $199,500 of depreciation expense. What is the amount and character of Buzz's gain or loss?

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The Answer of Buzz Corporation sold an office building that it used in its business for $501,000. Buzz bought the building 10 years ago for $649,500 and has claimed $199,500 of depreciation expense. What is the amount and character of Buzz's gain or loss?

Buzz Corporation Sold an Office Building That It Used in Its