! Required Information [The following information applies to the questions displayed below.] Steve Pratt, who is single, purchased a home in Spokane, Washington, for $500,000. He moved into the home on February 1 of year 1. He lived in the home as his primary residence until June 30 of year 5, when he sold the home for $790,000. (Leave no answer blank. Enter zero if applicable.) a. What amount of gain will Steve be required to recognize on the sale of the home? Recognized gain on sale