Lauren's factory was destroyed by a fire on March 3, 2022. Her basis in the factory was $100,000. On October 31 , she received insurance proceeds of $150,000 as a reimbursement for her loss. On December 11, Lauren purchased a new factory for $140,000. When Lauren files her 2022 tax return, she will elect to defer as much gain as possible. What is the amount of Lauren's recognized gain or loss from the involuntary conversion? a. $50,000 gain b. ($50,000) loss c. No gain or loss d. $150,000 gain e. $10,000 gain