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=660,000

2. Individual C traded an office building (basis $65,000, FMV $400,000) and $100,000 in cash for individual D's apartment building (basis $50,000). There is a $200,000 mortgage on the apartment building, and C will assume that mortgage.