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ABC Corp., a corporation that is not an S corporation, acquired a residential rental building...

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Accounting

ABC Corp., a corporation that is not an S corporation, acquired a residential rental building on June 1,2022, for $500,000. It sold the building March 1,2023, for $700,000. In 2022, $13,636 of depreciation was deducted using the S-L method. What portion of ABC's gain is treated as ordinary income?A. $200,000B. $0C. $10,606$13,636

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