Problem: Pedro, age 57, is the sole owner of his principal residence, which he has owned and occupied for 9 months. Maria, his spouse, has lived there with Pedro for the full 9 months. He sells the house for a realized gain of $340,000. They sell the house and move as a result of a qualified health concern. Question: Indicate the amount of... 1. The allowable 121 exclusion (show work), and 2. Pedro and Maria's recognized gain