DM Inc. incurred a $25,000 net capital loss in 2014 that has carried forward into 2015. During 2015, a hurricane destroyed business assets with a $120,000 basis. DM received a $150,000 insurance reimbursement which it immediately used to purchase replacement assets. The new assets have a three-year MACRS recovery period. Should DM elect to defer the gain recognized on the involuntary conversion?