Reld's personal residence is condemned on September 12, 2018, as part of a plan to add two lanes to the existing highway. His adjusted basis Is $250,000. He receives condemnation proceeds of $287,250 on September 30, 2018. He purchases another personal residence for $271,250 on October 15, 2018. What are Reld's realized and recognized gain or loss? (If there is no gain or loss Is recognized, select "No gain/loss".) No gain/loss Realized gain