Jessica$$s office building is destroyed by fire on November $15,2023.$ The adjusted basis of the building is $$410,000.$ She receives insurance proceeds of $$550,000$ on December $12,2023.$

Required:

Calculate her realized and recognized gain or loss for the replacement property if she acquires an office building in December $2023$ for $$550,000.$

Calculate her realized and recognized gain or loss for the replacement property if she acquires an office building in December $2023$ for $$495,000.$

What is her basis for the replacement property in parts $($a$)$ and $($b$)?$

Calculate Jessica$$s realized and recognized gain or loss if she does not invest in replacement property. Note: For all requirements, if no gain or loss is recognized, select $"$No gain or loss".