please help me with this question. Show all formulas and steps used, thank you.

In-class Assignment (2 ANaouaNowy Zak and Vira exchange equipment of same general busin ess asset class Zak (given): Basis $25,000; FMV $40,000 F Vira (given): $20,000; FMV $30,000 Basis Vira also gives stocks: Basis $7,000; FMV $10,000 received? What is Zak's recognized gain and basis in the like-kind property received? is Vira's gain and basis in the like-kind property