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Blake and Gwen exchange warehouses in a transaction that qualifies as a like-kind exchange. As part of the transaction, Gwen gives Blake a motorcycle. In

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Blake and Gwen exchange warehouses in a transaction that qualifies as a like-kind exchange. As part of the transaction, Gwen gives Blake a motorcycle. In addition, Gwen agrees to assume a $8,000 liability attached to the warehouse that is transferred by Blake. The details of the property exchanged are as follows: Answer the following questions showing your computations using good form. a. How much is Blake's realized gain or loss? b. How much is Blake's recognized gain or loss? c. How much is Blake's basis in the warehouse received? d. How much is Blake's basis in the motorcycle received? e. How much is Gwen's realized gain or loss? f. How much is Gwen's recognized gain or loss? g. How much is Gwen's basis in the warehouse received

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