B exchanged undeveloped land worth $245,000 with C for developed land worth $225,000 and DEF corporation stock worth $20,000. Bs adjusted basis in the land was $176,000. Cs adjusted bases in the land and stock were $243,000 and $17,500, respectively.

1. How much gain or loss must B recognize in this exchange, and what are his bases in the land and stock received?
2. How much gain or loss must C recognize in this exchange, and what is her basis in the land received?