Larry Gaines, a single taxpayer, age $42,$ sells his personal residence on November $12,2023,$ for $$198,000.$ He lived in the house for $7$ years. The expenses of the sale are $$13,860,$ and he has made capital improvements of $$5,940.$ Larry's cost basis in his residence is $$114,840.$ On November $30,2023,$ Larry purchases and occupies a new residence at a cost of $$247,500.$

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