eBook Calculator Problem 7-27 (Algorithmic) (LO. 5) Sarah exchanges a building and land (used in its business) for Tyler's land and building and some equipment (used in its business). The assets have the following characteristics: Fair Market Value Sarah's real property Adjusted Basis $6,960 3,480 3,132 Tyler's real property Equipment $17,400 13,920 5,220 a. What are Sarah's recognized gain or loss and basis for the land and building and equipment acquired from Tyler? Her recognized is $ . Her adjusted basis in the land and building she acquired from Tyler is and her adjusted basis in the equipment is $ b. What are Tyler's recognized gain or loss and basis for the land and building acquired from Sarah? Tyler's recognized is $ and his adjusted basis in the land and building he acquired from Sarah is $