8. Calcul following independent cases: ate the person's recognized gain or loss and the basis of the new factory building in the a. Patty's factory building, which has an adiusted basis of $475,000, is destroyed by fire on April 8, 2018. Insurance proceeds of $500.000 are received on June 1,2018. She has a new factory building constructed for $490,000, which she occupies on October 1, 2018. (4 points) b. Assume Patty constructed the new factory building for $520,000 instead of $490,000. (4 points)