4. Calculation of Gain Realized. M, single. purchased a residence on May 1, 2007, for $195,000. M lived in the residence from May 1, 2007, to June 1, 2011, when he began renting it. He rented it from June 2, 2011, through November 30, 2015. He once again lived there from December 1, 2015, until it was sold on May 6, 2021. The following information was derived from M's records: Purchase closing costs.. $1,450 Depreciation claimed while the property was rented. 12,250 Addition of family room (January 2014). 23,500 Painting of interior (April 2016). .4,200 The property sold for $289,000, and M incurred realtor's commissions of $16,340 and other closing costs of $2,300. The depreciation claimed was $12,250. a. How much is M's basis in the residence at the time of the sale? b. How much is M's gain realized on the sale? c. How much is M's gain recognized