Exercise $15-23($LO$.4)$

Constanza, who is single, sells her current personal residence $($adjusted basis of $$165,000)$ for $$450,000.$ She has owned and lived in the house for $30$ years. Her selling expenses are $$22,500.$

What is Constanza's realized and recognized gain?

Constanza's realized gain is $ $$ and her recognized gain would be $