ITS 2 QUESTIONS, PLEASE ANSWER BOTH, IF YOU CAN NOT ANSWER BOTH PLEASE DONT ANSWER AT ALL.

44. Peter Paterson transfers an apartment building with an adjusted basis of $160,000 and a fair market value of $235,000 for Charlie Claussen's apartment building (adjusted basis $120,000) with the fair market value of $220,000 and cash of $55,000 from Charlie. Peter's mortgage of $45,000 is assumed by Charlie who's mortgage of $85,000 is assumed by Peter. what is the realize and recognize gain or loss for Peter and Charlie and what are their bases in there acquired buildings?

45. Chad Carter exchanged land with an adjusted basis of $100,000 and a fair market value of $150,000 for Nash Nunn's land worth $140,000 (basis $120,000) and $15,000 cash. Chad's mortgage of $35,000 is assumed by Nash and Nash's mortgage of $40,000 is assumed by Chad. What is Chad's realize and recognize gain or loss and the basis in his new land? What is Nash's realize and recognize gain or loss and the basis in his new land?