Company Z exchanged an asset $($FMV $$16,000)$ for a new asset $($FMV $$16,000).$ Company Z$\text{'}$s tax basis in the old asset was $$9,300.$

a$.$ Compute Company Z$\text{'}$s realized gain, recognized gain, and tax basis in the new asset assuming the exchange was a taxable transaction.

b$.$ Compute Company Z$\text{'}$s realized gain, recognized gain, and tax basis in the new asset, assuming the exchange was a nontaxable transaction.

c$.$ Six months after the exchange, Company Z sold the new asset for $$16,850$ cash. How much gain does Company Z recognize if the exchange was taxable? How much gain if the exchange was nontaxable?