Green Ltd. is a Canadian public company with a December 31 taxation year end. The Company carries on business out of a single building that was purchased several years ago at a cost of $1,634,000 with $450,000 for the land and $1,184,000 for the building. The building is the only property in Class 1 and, on January 1, 2022, the UCC is $995,946. On September 1, 2022, the building is completely destroyed in a fire that was started by a disgruntled former executive. While the Company could rebuild on the site of the destroyed building, it expects significant growth in the next few years and decides to purchase a larger building. Given this, the Company sells the site for $580,000 on November 25,2022 , and begins to search for a replacement site. As it does not appear that the Company had any involvement in starting the fire, on December 1, 2022, the Company receives insurance proceeds equal to the $1,410,000FMV of the building. A replacement building is acquired on July 15, 2023 at a cost of $2,500,000, of which $1,700,000 is for the building and $800,000 for the land. It is a new building that will be used 100% for non-residential purposes, none of which is manufacturing. The company will elect to place the building in a separate Class 1 in order to take advantage of a higher CCA rate. Required: Indicate the income tax consequences of the involuntary disposition for the 2022 taxation year