Determine the realized gain or loss, the recognized gain or loss, and the basis of the land received for the following like-kind exchanges:

Basis of Land Exchanged $20,000 45,000 60,000 70,000 90,000 FMV of Boot Received $ -0- 14,000 25,000 38,000 22,000 FMV of Land Received $85,000 70,000 65,000 60,000 55,000