Help solve this equation

See chapter 1 1 PowerPoints and/or text on "like kind exchanges". See also Property MC questions 22 and 23. 1. In one or two sentences, explain in plain language (to a non-accountant) what "like-kind exchanges" are and how they impact taxes. 2. What is "boot" and what is the difference in tax treatment between boot received and boot given?175-3. Consider the birth-and-death process with the following mean rates. The birth rates are do = 2. A, = 3. A, = 2. As = 1, and A. = 0 for n > 3. The death rates are #, = 3. pty = 4. (; = 1. and (. = 2 for n > 4. (a) Construct the rate diagram for this birth-and-death process. (b) Develop the balance equations. (c) Solve these equations to find the steady-state probability dis- tribution Po. Pl. . . . . (d) Use the general formulas for the birth-and-death process to call- culate Po. Pre . . . . Also calculate L. Ly. W. and We