On April 1, 2017, Flounder Company received a condemnation award of $490,200 cash as compensation for the forced sale of the companys land and building, which stood in the path of a new state highway. The land and building cost $68,400 and $319,200, respectively, when they were acquired. At April 1, 2017, the accumulated depreciation relating to the building amounted to $182,400. On August 1, 2017, Flounder purchased a piece of replacement property for cash. The new land cost $102,600, and the new building cost $456,000.