HW Ch 11 Saved Help Save & Exit Submit Check my work 15 Required information Part 1 of 2 (The following information applies to the questions displayed below.) Kase, an individual, purchased some property in Potomac, Maryland, for $152,000 approximately 10 years ago. Kase is approached by a real estate agent representing a client who would like to exchange a parcel of land in North Carolina for Kase's Maryland property. Kase agrees to the exchange. What is Kase's realized gain or loss, recognized gain or loss, and basis in the North Carolina property in each of the following alternative scenarios? (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) 0.49 points eBook Hint a. The transaction qualifies as a like-kind exchange and the fair market value of each property is $710,000. Print References Realized gain Recognized gain Adjusted basis new property HW Ch 11 ( Saved Help Save & Exit Submit Check my work 16 Part 2 of 2 Required Information The following information applies to the questions displayed below.) Kase, an individual, purchased some property Potomac, Maryland, for $152,000 approximately 10 years ago. Kase is approached by a real estate agent representing a client who would like to exchange a parcel of land in North Carolina for Kase's Maryland property. Kase agrees to the exchange. What is Kase's realized gain or loss, recognized gain or loss, and basis in the North Carolina property in each of the following alternative scenarios? (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.) 0.49 points eBook Hint Print b. The transaction qualities as a like-kind exchange and the fair market value of each property is $116,000. References Realized loss Recognized loss Adjusted basis in new property