LO$\mathrm{.}2$ Determine the realized, recognized, and postponed gain or loss and the new basis for each of the following like$-$kind exchanges: $$ Adjusted Basis of Old Asset Cash Boot Given Fair Market Value of New Asset Boot Received a$.$ $ $7,000$ $ $0$ $$12,000$ $$4,000$ b$.14,0002,00015,0000$ c$.3,0007,0008,000500$ d$.15,000029,0000$ e$.10,000011,0001,000$ f$.17,000014,0000$ g$.$ Create a Microsoft Excel spreadsheet that$$by entering the fair market value and basis of property given up and the fair market value of property received$$will compute $(1)$ realized gain or loss, $(2)$ boot received, $(3)$ boot given, $(4)$ gain $($loss$)$ recognized, $(5)$ gain $($loss$)$ deferred, and $(6)$ the basis of like$-$kind property received. In separate tabs$,$ the spreadsheet should apply the $$simplified method$$ and the $$alternative method.$$ Ignore the implications of debt and depreciation. Test your spreadsheet using the data in this problem $($and Problem $31).$ E$-$mail your spreadsheet to your instructor along with a brief summary of how you built the spreadsheet.