Case Cash received Cash paid Adjusted basis of Proproperty FMV of Property Given Up Received Gain or Loss recognized Basis of Property Received 6,000 2 5,000 3 4 70,000 40,000 30,000 40,000 30,000 50,000 50,000 59,000 36,000 25,000 60,000 32,000 50,000 40,000 10,000 2,000 5 6 10,000 25,000 Assume that all of these properties qualify for Sec. 1031 like-kind exchange treatement. For each of the inidivdual cases above, determine the gain or loss recgonized and the basis of the property received