In an arm$$s length exchange, Sharp exchanges some land with a cost basis of $$6,000$ and a value of $$9,000$ with Dull for some non$-$publicly traded stock with Dull owns and in which Dull has a basis of $$8,000$ and is worth $$10,000$ at the time of the exchange.

a$.$ Consider Sharp and Dull$$s gains on the exchange and their respective cost bases in the assets they receive.

b$.$ What results in $($a$),$ above, if the value of Dull$$s stock cannot be determined with any reasonable certainty?