I need help calculating the subsequent problem:
On 1st July, 2012, Ted, age 73 and single, sells his personal residence of the last 30 years for $365,000. Ted's basis in his residence is $35,000. The expenses related with the sale of his home total $20,000. On 15th December, 2012, Ted purchases and occupies a new residence at a cost of $175,000. Calculate the subsequent:
(a) realized gain
(b) recognized gain
(c) the adjusted basis of his new residence