Donald and Candice sell their home for $695,000, incurring selling expenses of $30,000. They purchased the residence for $125,000 and made capital improvements totaling $20,000 during the 20 years they lived there. What is their realized gain and recognized gain on the sale? 
Definitions:
Sales Promotion
A marketing strategy involving temporary incentives to encourage the purchase or sale of a product or service.
University Bookstore
A university bookstore is a retail establishment located on or near a college campus, specializing in selling textbooks, academic materials, and university-branded merchandise.
Advertising Message
The central theme or idea communicated in an advertising campaign.
Gullah Bible
The Gullah Bible is a translation of the Bible into the Gullah language, which is spoken by the African American communities on the Sea Islands and coastal region of the Southeastern United States.
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