Enrique Hammond exchanged his fully

Question 62 of 75. Enrique Hammond exchanged his fully depreciated business-use condominium (FMV $90,000) and $7,000 for an office building (FMV $97.000). What is his gain realized and the gain recognized on the exchange? O $90,000 and $0 O $0 and $97,000 O $90,000 and $7.000 O $5,000 and $90,000 Mark for follow up Question 63 of 75. Chad Young's investment property was condemned. He purchased the property for $125,000. He received a net condemnation award of $155,000 and purchased replacement property for $205,000. What is the amount of gain realized on the condemnation? O $0 O $30,000 O $50,000 $80,000