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Business, 06.12.2021 19:50 shannydouglas

Stephanie's building, which was used in her business, was destroyed in a fire. Stephanie's adjusted basis in the building was $175,000, and its FMV was $210,000. Stephanie filed an insurance claim and was reimbursed $200,000. In the same year , Stephanie invested $180,000 of the insurance proceeds in another business building. If the proper election is made, Stephanie will recognize gain of:. a. $-0-
b. $15,000
c. $20,000
d. $25,000

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