Cart sells his principal residence, which has an adjusted basis of $150,000 for $200,000. He incurs selling experses of $20,000 and legal fees of $2,000. He had purchased another residence one month prior to the sale for $350,000. What is the recognized gain or loss and the basis of the replacement residence if the taxpayer elects to forgo the 5121 exclusion (exclusion of gain on sale of principal residence)? a. None of these b. $28,000 and $380,000 c. $28,000 and $352,000 d. $0 and $408,000 e. $0 and $380,000