Can someone please show me how to solve these tax-problems. Thank you.

Question 5 6 pts John Jackson owns a dry cleaner. This year a fire completely destroyed his dry wash machine. His AB in the machine was $5,000 and the FMV of the machine before the fire was $7,000. The insurance company paid John $7,000 and he purchased a new dry wash machine at the price of $17,000. What is John's basis in the new dry wash machine? $17,000 $5,000 O $15,000 57.000 Question 6 6 pts Tom Tanner traded in a printing press with an adjusted basis of $20,000 for a smaller press valued at $12,000. In addition to the smaller press, Tom received $3,000 in cash and was relieved of the existing liability on the old press of $5,000. What is Tom's recognized gain? 50 O $3,000 54,800 $5.000