(Answered) Lucy lived in a five-unit apartment building that she

Accounting

Lucy lived in a five-unit apartment building that she purchased in 1995 for $60,000. Lucy rented out the other four apartments in the building. Lucy had taken depreciation of $24,000 on the rented portion of the building. In 2016, she sold the building for $250,000 and purchased a new personal residence for $90,000. How much gain on the sale of the personal portion of her residence must Lucy report on her 2016 return?

A. No recognition of gain.
B. $30,000
C. $160,000
D. $190,000

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