Company B and Firm W exchanged the following business real estate:

	Blackacre (exchanged by B)	Whiteacre (exchanged by W)
FMV	$ 426,000	$ 575,000
Mortgage	(106,500)	(255,500)
Equity	$ 319,500	$ 319,500

Required:

A. If Bs adjusted basis in Blackacre was $255,600, compute Bs realized gain, recognized gain, and basis in Whiteacre.

B. If W's adjusted basis in Whiteacre was $115,000, compute Ws realized gain, recognized gain, and basis in Blackacre.