Problem $11-60($LO $11-6)($Static$)$

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$[$The following information applies to the questions displayed below.$]$

Metro Corporation traded Building A for Building B$.$ Metro originally purchased Building A for $$50,000,$ and Building A$\text{'}$s adjusted basis was $$25,000$ at the time of the exchange.

What is Metro's realized gain or loss, recognized gain or loss, and adjusted basis in Building B in each of the following alternative scenarios?

Note: Loss amounts should be indicated by a minus sign. Input all other amounts as positive values. Leave no answers blank. Enter zero is applicable.

Problem $11-60$ Part$-$b $($Static$)$

b$.$ The fair market value of Building A and of Building B is $$40,000.$ The exchange qualifies as a like$-$kind exchange.