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Andrew's office building is condemned by the state, which needs to bulld a new highway right where the building is located. Andrew has a basis of $$480,000$ in the building. The state awards him $$600,000$ and he immediately purchases a replacement office bullding for $$520,000.$ What is Andrew's recognized gain?

Select one:

a$.$ $$80,000$

b$.$ $$0$

c$.$ $$40,000$

d$.$ $$120,000$