1 poi QUESTION 8 An office building with an adjusted basis of $200,000 was destroyed by fire. The owner received $500,000 from the insurance company and reinvested $45 of the proceeds in another office building. The owner elects to postpone as much gain as possible. The owner's recognized gain and basis in the replacement property, respectively, are: 0,000 $300,000 and $450,000. $300,000 and $200,000. $50,000 and $200,000. $50,000 and $450,000. none of the above