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 2019, 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 552,000

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