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

	Blackacre (exchanged by B)	Whiteacre (exchanged by W)
FMV	$ 448,000	$ 536,000
Mortgage	(112,000)	(200,000)
Equity	$ 336,000	$ 336,000

Required:

1. If Bs adjusted basis in Blackacre was $268,800, compute Bs realized gain, recognized gain, and basis in Whiteacre.
2. If W's adjusted basis in Whiteacre was $107,200, compute Ws realized gain, recognized gain, and basis in Blackacre.