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5. (2 points) Sarah owns land (A/B of $90,000; FMV of $125,000) that she uses in her business. She exchanges the land for another parcel
5. (2 points) Sarah owns land (A/B of $90,000; FMV of $125,000) that she uses in her business. She exchanges the land for another parcel of land (FMV of $100,000) and shares of stock worth $25,000. a. What is the realized and recognized gain on the exchange? b. What is Sarah's basis in the land received and in the stock received
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