Tricia's office building, which has an adjusted basis of $220,000, is destroyed by fire on May 5, 2014. Insurance proceeds of $425,000 were received on June 1, 2014. She has a new office building constructed for $410,000, which she occupied on October 1, 2016. 

a. May Tricia postpone recognition of gain? Explain in full. 

b. Calculate her recognized gain or loss and the basis of the new office building.