Pierce, a Single Person Age 60, Sold His Home This

Multiple Choice

Pierce, a single person age 60, sold his home this year. He had lived in the house for 10 years. He signed a contract on March 4 to sell his home. $$\begin{array} { | l | r | } \hline \text { Sales price } & \$ 600,000 \\\hline \text { Selling expenses } & 15,000 \\\hline \text { Replaced and paid for a broken window on March 2 } & 800 \\\hline \text { Basis of old home before repairs and improvements } & 310,000 \\\hline\end{array}$$ Based on these facts, what is the amount of his recognized gain?

A) $0
B) $25,000
C) $40,000
D) $275,000