Problem 12-55 (LO 12-2) Reid's personal residence is condemned on September 12, 2020, as part of a plan to add two lanes to the existing highway. His adjusted basis is $200,000. He receives condemnation proceeds of $225,000 on September 30, 2020. He purchases another personal residence for $215,000 on October 15, 2020, Required: What are Reid's realized and recognized gain or loss? (If there is no gain or loss is recognized, select "No gain/loss".) Amount