Banco also sold a building with an adjusted basis of $428,000 with cost recovery of $122,000. The building was purchased 12 years ago.

Banco also sold a building with an adjusted basis of $428,000 with cost recovery of $122,000. The building was purchased 12 years ago. Determine the amount and character of Banco's gain/loss in each of the following situations

A. Building is sold for $470,000.

B. Building is sold for $366,000.                 

C.  Banco is an individuals and sells the building for $570,000.