On January $10,2021,$ a fire destroyed a warehouse owned by NP Company. NP$$s adjusted basis in the warehouse was $$595,000.$ On March $12,2021,$ NP received a $$780,000$ reimbursement from its insurance company. In each of the following cases:

Required:

Determine NP$$s recognized gain on this property disposition. Assume that NP would elect to defer gain recognition when possible. NP$$s board of directors decided not to replace the warehouse.

Determine NP$$s recognized gain on this property disposition. Assume that NP would elect to defer gain recognition when possible. On January $2,2023,$ NP paid $$790,000$ to acquire a warehouse to store its inventory.

Determine NP$$s recognized gain on this property disposition. Assume that NP would elect to defer gain recognition when possible. On February $8,2024,$ NP paid $$790,000$ to acquire a warehouse to store its inventory.