Cornell Corporation owns an office building with a $600,000 adjusted basis. The building is destroyed by a tornado. The insurance company paid $780,000 as compensation for the loss. Eight months after the loss, Comell uses the insurance proceeds and other funds to acquire a new office building for $707,000 and machinery for one of the company's plants at a $92,000 cost Requirement Assuming that Cornell elects to defer as much of the gain as possible, what is the recognized gain, the basis for the new office building, and the basis for the machinery acquired? (Complete all input fields. Enter a "0" for any zero balances.) The recognized gain is