OCD exchanged old furniture for new like-kind furniture. OCDs adjusted basis in the old furniture was $31,700

Question:

OCD exchanged old furniture for new like-kind furniture. OCD’s adjusted basis in the old furniture was $31,700 ($60,000 initial cost − $28,300 accumulated depreciation), and its FMV was $48,000. Because the new furniture was worth only $45,000, OCD received $3,000 cash in addition to the new furniture.
a. Compute OCD’s realized gain and determine the amount and character of any recognized gain.
b. Compute OCD’s basis in its new furniture.