DDD Corporation agrees to exchange $50,000 and some raw land for a building owned by Jason Briggs. DDD Corporations land has a value of $600,000, a basis of $200,000 and is encumbered by a $200,000 mortgage that Briggs agrees to assume. Briggss building is valued at $450,000 and has a basis of $125,000. a. What are DDD Corporations and Briggss realized and recognized gains or losses on the exchange? DDD Corporation Realized gain of $ Recognized gain of $ Briggs Realized gain of $ Recognized gain of $ b. What are their deferred gains? DDD Corporation deferred gain of $ Briggs deferred gain of $ c. What are their bases in the properties acquired? DDD Corporation basis of $ Briggs basis of $