Please include IRC Citation. Thanks.

44. During the current year, Munter Corp exchanged an office building used in its business for a warehouse to be used in its business. The following summarizes the relevant data on the day of exchange: Adjusted Basis FMV Office building (to Munter) $400,000 $550,000 Warehouse (to the seller) $300,000 $350,000 As part of the exchange, Munter Corp recived $200,000 casg. What is the recognized gain on the exchange and what is the tax basis of the warehouse, respectively, to Munter. a. $0 and $100,000 b. $0 and $200,000 C. $150,000 & $350,000 d. $200,000 & $400,000 IRC Citation (basis) f. IRC Citation (recognized gain) e. 45. During the current year, Darcy had property with an adjusted basis to him of $50,000 that was condemned by the City of Pittsburgh. The City paid Darcy $65,000 for the property Darcy immediately [purchased similar new property for $58,000. If Darcy elects to defer recognition if gain what is the basis of Darcy's replacement property? a. $35,000 b. $50,000 C. $58,000 d. $66,000 IRC Citation e