emaining Time: 1 hour, 13 minutes, 48 seconds Question Completion Status: QUESTION 28 In the current year, 70-year-old Jeanette sells her personal residence of the last 40 years for $365,000. Jeanette's basis in her residence is $70,000. The expenses associated with the sale of her home total $20,000. Jeanette decides to move in with her daughter rather than purchase a new residence. Calculate Jeanette's realized gain and recognized gain on the sale of her residence. a Realized gain b. Recognized gain TT T Arial 3 (12pt) VT