Jacob, an unmarried individual, sold a personal residence, which has an adjusted basis of $70,000, for $165,000. Baker owned and lived in the residence for 7 years. Selling expenses were $10,000. Four weeks prior to the sale, Jacob paid a handyman $1,000 to paint and fix-up the residence. What is the amount of Jacob's recognized gain? $85,000 $95,000 $0 $84,000