21 Prater Incorporated enters into an exchange in which it gives up its warehouse on 10 acres of land and receives a tract of land. A summary of the exchange is as follows: 10 points Accumulated Depreciation $ 53,500 Transferred Warehouse Land Mortgage on warehouse Cash Original Basis $ 320,000 61,500 FMV $ 475,000 61,500 43,750 14,250 14,250 eBook Assets Received Land FMV $ 507,000 Hint What are Prater's realized and recognized gain on the exchange and its basis in the assets it received in the exchange? Amount Print Description Realized gain Recognized gain Adjusted basis in new property References