8) Andy owned a building with an adjusted basis of $45,000 that was destroyed by a tornado. He received $90,000 of insurance proceeds. Andy used part of the money for a 4-month around-the-world cruise. When he returned, he purchased a replacement building for $65,000. How much gain must Andy recognize as income? A $25,000 B $65,000 C $45,000 D $20,000