Sherron, who is single, purchased a house to use as rental property on April 1, 2008, for \($300,000.\) He moved into the house on June 1, 2022, and used it as a personal residence until August 1, 2023, when he sells the house for \($500,000\).

Depreciation allowed while property was used as rental property amounts to \($25,000\).

Determine his:

a. realized gain on the sale

b. recognized gain on the sale

c. recognized gain on the sale if the house is sold on August 1, 2024, for \($500,000\).