Frances exchanges an apartment building complex, Forestview, with a fair market value of $500,000, subject to a mortgage of $200,000, for Oceanview an apartment building complex owned by Gayle. The fair market value of Oceanview is $500,000, and it is subject to a mortgage of $250, 000. Gayle also transfers $50,000 of cash to Frances. Frances basis in Forestview is $150,000. Gayle's basis in Oceanview is $100,000. How much gain is realized and recognized by Frances and Gayle? What are Frances and Gayles respective bases in the property received by each?