Firm M exchanged an old asset with a $$9,100$ tax basis and a $$21,000$ FMV for a new asset worth $$18,500$ and $$2,500$ cash.

a$.$ If the exchange is nontaxable, compute Firm M$\text{'}$s realized and recognized gain and tax basis in the new asset.

b$.$ How would your answers change if the new asset were worth only $$7,000,$ and Firm M received $$14,000$ cash in the exchange?