Problem 09-21 (Static) [LO 9-7] Calvin Corporation's office was burglarized. The thieves stole 10 laptop computers and other electronic equipment. The lost assets had an original cost of $35,000 and accumulated tax depreciation of $19,400. Calvin received an insurance reimbursement of $20,000 related to the theft loss and immediately purchased new replacement computer equipment. In each of the following cases: Required: a. Determine Calvin's recognized gain, if any, and the tax basis of the replacement property. Assume that Calvin would elect to defer gain recognition when possible. The replacement property cost $27,000. b. Determine Calvin's recognized gain, if any, and the tax basis of the replacement property. Assume that Calvin would elect to defer gain recognition when possible. The replacement property cost $18,000. Complete this question by entering your answers in the tabs below. Required A Required B Determine Calvin's recognized gain, if any, and the tax basis of the replacement property. Assume that Calvin would elect to defer gain recognition when possible. The replacement property cost $27,000. Recognized gain Basis Amount