James Codg, a single taxpayer, age 42, sells his personal residence on November 12, 2021, for $298,800. He lived in the house for 7 years. The expenses of the sale are $20,916, and he has made capital improvements of $8,964. James's cost basis in his residence is $173,304. On November 30, 2021, James purchases and occupies a new residence at a cost of $373,500.

Calculate James's realized gain, recognized gain, and the adjusted basis of his new residence.

If an amount is zero, enter "0".

a. Realized gain $fill in the blank 1

b. Recognized gain $fill in the blank 2

c. Adjusted basis of new residence