25. During 2021, Sam and Libby, a married couple, decided to sell their residence, which had a basis of $ 200,000. They had owned and occupied the residence for 20 years. They sold the house in May for $ 800,000. Broker's commissions and other selling expenses amounted to $ 50,000. They purchased a new residence in July for $ 400,000. What is the recognized gain and the adjusted basis of the new residence? a. $ 45,000 and $ 400,000 b. $ 50,000 and $ 400,000 c. $ 100,000 and $ 600,000 d. $ 550,000 and $ 800,000