Leroy owned a truck used in his trade or business that cost \($50,000\) and had an adjusted basis of \($34,000\) in 2016 when the truck was exchanged for a new truck that was like-kind property with a FMV of \($40,000.\) Prior to selling the new truck in 2023, Leroy was allowed depreciation of \($13,000\) for the new truck. Determine:

a. Realized gain on the exchange in 2016

b. Recognized gain on the exchange that was a like-kind exchange in 2016

c. Basis of truck received in 2016

d. Recognized gain, and the character of the gain, if the sales price of the truck is \($41,000\)

e. Recognized gain, and the character of the gain, if the sale price of the truck is \($52,000\)

f. If the exchange had occurred during the current year instead of 2016, determine the recognized gain and the basis of the new truck.