Angelica's office building is destroyed in June 2019. The building had an adjusted basis of $475,000. Angelica, a calendar year taxpayer, receives insurance proceeds of $525,000 in January 2020 and elects 1033 for involuntary conversions.Calculate Angelica's

1. realized gain or loss, 2. recognized gain or loss, and 3. basis for the replacement property if she:

A. Acquires a new warehouse for $550,000 in January 2020.

B. Acquires a new warehouse for $500,000 in January 2020.