Company B and Firm W exchanged the following business real estate:

a. If B€™s adjusted basis in Blackacre was $240,000, compute B€™s realized gain, recognized gain, and basis in Whiteacre.
b. If W€™s adjusted basis in Whiteacre was $100,000, compute W€™s realized gain, recognized gain, and basis in Blackacre.

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Blackacre (exchanged by B) S 400,000 100,000) $ 300,000 Whiteacre ged by W) FMV Mortgage Equity $ 525,000