2. Corinne and Daphne exchange property. Corinne transfers her vacation home in Ocean City (classified as "primarily personal") in which she has an adjusted basis of $320,000. The property has a fair market value of $460,000. Daphne transfers her vacation home in Avalon (classified as "primarily personal") in which she has an adjusted basis of $400,000. The property has a fair market value of $510.000. In addition, Corinne gives Daphne $50,000 cash. How much is Daphne's realized gain and recognized gain? a) $60,000 realized gain and $0 recognized gain b) $110,000 realized gain and $0 recognized gain c) $60,000 realized gain and $50,000 recognized gain d) $110,000 realized gain and $50,000 recognized gain e) $110,000 realized gain and $110,000 recognized gain