On January 10, 2017, a fire destroyed a warehouse owned by NP Company. NP’s adjusted basis in the warehouse was $530,000. On March 12, 2017, NP received a $650,000 reimbursement from its insurance company. In each of the following cases: 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, 2019, NP paid $700,000 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, 2020, NP paid $700,000 to acquire a warehouse to store its inventory.

An attorney came to work on a saturday. when he signed in, he was advised by the morning security guard employed by the building management that he must be out of the building by 5 p. m., when it closes. however, he stayed past 5 p. m. to complete a brief that had to be filed on monday morning. at 5: 15 p. m., the afternoon security guard set the locks on all the doors of the building and left. because she was in a hurry, she did not check the sign-in sheet to make sure that everyone had signed out, contrary to mandatory procedures. when the attorney tried to exit 15 minutes later, he discovered that the doors were all locked and could not be opened from the inside. he used his cell phone to call for , and a supervisor from the building arrived and let him out shortly thereafter. if the attorney sues the building management for false imprisonment, is he likely to win?