For each of these cases, find the gain realized, the gain recognized,and the new basis for each item. All real estate is for investment purposes except where the problem indicates otherwise.

1. Individual A traded his farm (basis $100,000, FMV $450,000) and a tractor (basis $10000, FMV $10,000) for Individual B's warehouse (basis $150,000). A also assumed B's mortgage of $200,000. FMV Of warehouse=660000