Jared, a fiscal year taxpayer with a August 31 year-end, owns an office building (adjusted basis of $800,000) that was destroyed by fire on December 24, 2021. If the insurance settlement was $950,000 (received March 1, 2022), what is the latest date that Jared can replace the office building to qualify for nonrecognition of gain under the involuntary conversion rules? Oa. August 31, 2022. b. December 31, 2023. c. August 31, 2024. Od. December 31, 2021