Assume the facts of (d) except Ashley's commercial real estate is worth $600,000, has an adjusted basis

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Assume the facts of (d) except Ashley's commercial real estate is worth $600,000, has an adjusted basis to Ashley of $200,000, and is encumbered by a $300,000 mortgage. Ashley transfers the commercial real estate plus $100,000 in cash to Kevin, and Kevin takes Ashley's property subject to the $300,000 mortgage. What tax consequences to Kevin and Ashley? Assume that Ashley had held the commercial real estate in connection with her trade or business for 6 months, and she will hold the farmland for investment purposes. What is current net worth of Ashly? Explain briefly