Question - 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?
1. $400,000
2. $300,000
3. $100,000
4. $80,000