Question: Exercise 7-7 (Algorithmic) (LO. 2, 6) Camilo's property, with an adjusted basis of $169,000, Is condemned by the state. Camilo receives property with a fair

Exercise 7-7 (Algorithmic) (LO. 2, 6) Camilo's property, with an adjusted basis of $169,000, Is condemned by the state. Camilo receives property with a fair market value of $194,350 as compensation for the property taken If an amount is zero, enter "O". a. What is Camilo's realized and recognized gain? Camilo's realized gain is $ and his recognized gain is s b. What is the basis of the replacement property? The basis of the replacement property is

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