Peter Paterson transfers an apartment building with an adjusted basis of $160,000 and a fair market value of $235,000 for Charlie Claussen's apartment building (adjusted basis $120,000) with a fair market value of $220,000 and cash of $55,000 from Charlie. Peter's mortgage of $45,000 is assumed by Charlie whose mortgage of $85,000 is assumed by Peter. What is the realized and recognized gain or loss for Peter and Charlie and what are their bases in their acquired buildings?