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Brad sold a rental house that he owned for $246,500. Brad bought the rental house...

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Accounting

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Brad sold a rental house that he owned for $246,500. Brad bought the rental house five years ago for $228,500 and has claimed $48,250 of depreciation expense. What is the amount and character of Brad's gain or loss? O None of the choices are correct. $66,250 ordinary gain. O $18,000 ordinary and $48,250 unrecaptured $1250 gain. O $18,000 1231 gain and $48,250 unrecaptured $1250 gain. $66250 capital gain

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