An apartment building with an adjusted basis of $500,000 was destroyed by a tornado on April 30, 2019. On May 10, 2019, the insurance company paid the owner $695,000. The owner reinvested $570,000 in a new apartment complex. What is the basis of the new complex if non-recognition of gain from an involuntary conversion is elected? Multiple Choice $570,000, O se95.000. $625.000 $500.000,