An office building owned by Elroy was condemned by the state on January 2, 2011. Elroy received the condemnation award on March 1, 2012. In order to qualify for no recognition of gain on this involuntary conversion, what is the last date for Elroy to acquire qualified replacement property?

a. August 1, 2013.
b. January 2, 2014.
c. March 1, 2015.
d. December 31, 2015. 

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The answer is D December 3120... View the full answer