Mrs. Gomez, a widow, paid $197,000 for her home 20 years ago. She recently sold this home and moved in with her son on a permanent basis. Assume the taxable year is 2021. Required: Compute Mrs. Gomez's recognized gain or loss on the sale assuming that her amount realized was: (If the results of a transaction do not result in a gain or loss, select 'No gain/loss'.) Amount a. $192,500. No gain/loss $ 0 b. $321,000. c. $562,000. Recognized gain Recognized gain $ 0