Ron's Building, Which Was Used in His Business, Was Destroyed

Ron's building, which was used in his business, was destroyed in a fire. Ron's adjusted basis in the building was $210,000, and its FMV was $330,000. Ron filed an insurance claim and was reimbursed $300,000. In that same year, Ron invested $240,000 of the insurance proceeds in another business building. Ron will recognize gain of

A) $30,000.
B) $90,000.
C) $60,000.
D) $0.