Following a hurricane in $2023,$ Grant's Fishing lost three boats, with a combined tax basis of $$815,500.$ Insurance paid $$1\mathrm{.}05$ million on October $14,2023.$ Grant's bouight a new boat for $$780,000$ on June $25,2024.$ Determine the recognized gain or loss and the new boat's tax basis.

a$.$ $$234,500$ recognized gain; $$815,500$ basis in the boat

b$.$ None of these choices are correct

c$.$ $$270,000$ recognized gain; $$780,000$ basis in the boat

d$.$ $$234,500$ recognized gain; $$780,000$ basis in the boat