Can someone please show me how to solve these tax-problems. Thank you.

Leonard Lambert's commercial building, which had an adjusted basis of $500,000, was partially destroyed by fire. The fair market value was $800,000 just before the fire and $600,000 immediately after. Leonard received $150,000 insurance proceeds and deducted a $50,000 casualty loss. What is Leonard's basis in the building before repairs are made? $300,000 $350,000 $450,000 O $500,000 Question 2 6 pts Five-year property costing $25,000 was placed in service on April 11 of the current year. The property has no salvage value and is depreciated using straight-line. Assuming the company elects not to take advantage of either bonus depreciation or the Code Sec. 179 deduction and the mid-quarter convention applies to all five-year property placed in service this year, what will be depreciation expense with regard to this property for the current year? $3,125 O $5,000 O $4,375 O None of these