2 point QUESTION 11 An office building with an adjusted basis of $320,000 was destroyed by fire on December 30, 2021. On January 11, 2022, the insurance company puld the owner $450,000. The owner reinvested $400,000 in a new office building on February 12, 2022, that was smaller than the original office building. What is the recognized gain and the basis of the new building if 1033 (onrecognition of gain from an involuntary conversion) is clectief? O a. $0 and $320,000 ObS0 and $410,000 O $40,000 and $320,000. d. 550,000 and 5320,000. Oe. None of the above