On July 1, 2015, Ted, age 73 and single, sells his personal residence of the last 30 years for $368,000. Ted's basis in his residence is $42,000. The expenses associated with the sale of his home total $22,000. On December 15, 2015, Ted purchases and occupies a new residence at a cost of $175,000. Calculate Ted's realized gain, recognized gain, and the adjusted basis of his new residence.

a. Realized gain $__________

b. Recognized gain $__________

c. Adjusted basis of the new residence $__________