11. (20 points) Walt exchanges land held for investment for an office building owned and used by Skyler in her business. The fair market value of Walt's land is $225,000 and his adjusted basis in the land is $120,000. Walt's land is subject to a mortgage of $45,000 which is assumed by Skyler. Walt receives $30,000 cash and Skyler's office building which has a fair market value of $150,000 and an adjusted basis to Skyler of $135,000. Give the gain or loss realized and recognized and the adjusted basis in the property received for both Walt and Skyler