Mitchell, a calendar year taxpayer, is the sole proprietor of a fast$-$food restaurant. His adjusted basis for the building and the related land is $$450,000.$ On March $12,2024,$ state authorities notify Mitchell that his property is going to be condemned so that the highway can be widened. On June $20,2024,$ Mitchell$$s property is officially condemned, and he receives an award of $$625,000.$ Because Mitchell$$s business was successful in the past, he would like to reopen the restaurant in a new location.

A$.$ What is the earliest date Mitchell can acquire a new restaurant and qualify for gain postponement?

B$.$ On June $30,2024,$ Mitchell purchases land and a building for $$610,000.$ Assuming that he elects the maximum postponement amount, what is his recognized gain?

C$.$ What is Mitchell$$s adjusted basis for the new land and building?

D$.$ If he does not elect Section $1033$ treatment, what are Mitchell$$s recognized gain and adjusted basis?

E$.$ Suppose he invests the $$625,000$ condemnation proceeds in the stock market on June $30,2024.$ What is Mitchell$$s recognized gain?