On September 3, 2018, Federal Corporation's warehouse is totally destroyed by fire. $800,000 of insurance proceeds are received, and the realized gain is $300,000. Whenever possible, Federal elects to defer gains. For each of the following independent situations, what is the amount of gain recognized? Explain why the gain is not deferred, if applicable.

a. On October 23, 2018, Federal purchases a warehouse for $770,000.

b. On February 4, 2019, Federal purchases 100% of the Park Corporation, which owns a warehouse. Federal pays $895,000 for the stock.

c. On November 20, 2020, Federal purchases an apartment complex for $900,000.

d. On March 26, 2021, Federal purchases a warehouse for $888,000.