Ace Corporation has located a building that it would like to acquire for its office complex. Ace Corporation has contacted the owner of the property about making a trade for Aces existing property. The owner of the property is only willing to sell for cash, as he will have little gain on the sale and has no use for the Ace property. Ace Corporation, on the other hand, has an extremely low basis in its property and is unwilling to sell it in order to purchase the new property. Discuss if there is any way Ace and the owner of the other property can accomplish their desires. Do you think Congress had this intent in mind when they created these tax provisions? Do you think this smells of tax avoidance/deferral?