Acme Inc. and Beamer Company exchanged qualified like kind assets. Acme's asset had a $240,000 FMV and $117.300 adjusted tax basis. Beamer's asset had a $225,000 FMV and a $168,200 adjusted tax basis. Beamer paid $15,000 cash to Acme as part of the exchange. 117,300 recognized gain is incorrect. 1. Compute Acme's realized gain recognized gain and tax basis in the new asset. Realized gain s 122,700 Recognized gain $ Tax basis $ 2. Compute Beamer's realized gain, recognized gain and tax basis in the new asset. Realized gain $ 56,800 Recognized gain S 15,000 X Tax basis $ 168,200 X