1. Dondee Realty Company owns an apartment building that has an adjusted basis of $740,000, but is subject to a mortgage of $230,000.Dondee transfers the apartment building to Broadview, Inc. and receives from Broadview $210,000 in cash and an office building with a FMV of $1,000,000 at the time of the exchange.Broadview assumes the $230,000 mortgage on the apartment building

a. What is Dondee's realized gain or loss on the apartment building?

b. What is its recognized gain or loss on the apartment building?

c. What is the basis of the newly acquired office building?