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 $400.000. He receives condemnation proceeds of $458,750 on September 30, 2020. He purchases another personal residence for $438.750 on October 15, 2020. Required: What are Reid's realized and recognized gain or loss? (If there is no galn or loss is recognized, select "No gain/loss".) Amount