Question: PLEASE HELP WITH A. AND B. Exercise 13-36 (Algorithmic) (LO. 6) Logan and Jonathan exchange land, and the exchange qualifies as like kind under 1031.

PLEASE HELP WITH A. AND B. Exercise 13-36 (Algorithmic) (LO. 6) Logan PLEASE HELP WITH A. AND B.

Exercise 13-36 (Algorithmic) (LO. 6) Logan and Jonathan exchange land, and the exchange qualifies as like kind under 1031. Because Logan's land (adjusted basis of $123,000 ) is worth $147,600 and Jonathan's land has a fair market value of $116,850, Jonathan also gives Logan cash of $30,750. a. Logan's recognized gain is $ b. Assume that Jonathan's land is worth $132,840 and he gives Logan $14,760 cash. Logan's recognized gain is $

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