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

	Blackacre (exchanged by B)				Whiteacre (exchanged by W)
FMV	$	486,000			$	562,000
Mortgage		(121,500	)			(197,500	)
Equity	$	364,500			$	364,500

1. If Bs adjusted basis in Blackacre was $291,600, compute Bs realized gain, recognized gain, and basis in Whiteacre.
2. If W's adjusted basis in Whiteacre was $112,400, compute Ws realized gain, recognized gain, and basis in Blackacre.