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

	Blackacre (exchanged by B)				Whiteacre (exchanged by W)
FMV	$	424,000			$	599,000
Mortgage		(106,000	)			(281,000	)
Equity	$	318,000			$	318,000

1. If Bs adjusted basis in Blackacre was $254,400, compute Bs realized gain, recognized gain, and basis in Whiteacre.
2. If W's adjusted basis in Whiteacre was $119,800, compute Ws realized gain, recognized gain, and basis in Blackacre.

Company B and Firm W exchanged the following business real estate Blackacre Whiteacre (exchanged (exchanged by W) $424,000 599,000 Mortgage(106,000 (281,000) $ 318,000 318,000 by B) FMV Equity a. If B's adjusted basis in Blackacre was $254,400, compute B's realized gain, recognized gain, and basis in Whiteacre b. If W's adjusted basis in Whiteacre was $119,800, compute W's realized gain, recognized gain, and basis in Blackacre Complete this question by entering your answers in the tabs below. Required ARequired B If B's adjusted basis in Blackacre was $254,400, compute B's realized gain, recognized ga Realized gain Recognized gain Basis Required A Required B > Required A Required B If W's adjusted basis in Whiteacre was $119,800, compute W's realized gain, recognized Realized gain Recognized gain Basis Required A Required B