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Oscar Olson, single, purchased a residence on February 19, 2020, for $165900. On September 7, 2022, a tornado completely destroyed his home. The home was

Oscar Olson, single, purchased a residence on February 19, 2020, for $165900. On September 7, 2022, a tornado completely destroyed his home. The home was insured for its replacement value, and homes in Oscars area had appreciated greatly. He received proceeds of $525000 and became a renter. How much gain does Oscar recognize?

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