Exercise 14-37 (Algorithmic) (LO. 11)

In a 1031 like-kind exchange, Rafael exchanges a business building that originally cost $228,000. On the date of the exchange, the building given up has an adjusted basis of $91,200 and a fair market value of $125,400. Rafael pays $18,810 and receives a building with a fair market value of $144,210.

Compute the following. If an amount is zero, enter "0". a. Rafael's realized gain on the exchange is $ ............ b. Rafael's recognized 1031 gain is $.............. c. Rafael's unrecaptured 1250 gain of $---------- is carried over to the replacement property .