Harris Inc. trades Land A for Land B. The fair market value of Land A is $54,450 and Harris trades Land A for Land B valued at $48,400 and $6,050 cash. Land A and Land B are like-kind property. Harris originally purchased Land A three years ago for $60,500 and Land As adjusted basis was $30,250 at the time of the exchange.

• What is the amount of Harris realized gain or loss? (If it is a gain, enter it as a positive number. If it is a loss, enter it as a negative number by putting a minus sign in front of it.)
• What is the amount of Harris recognized gain or loss? (If it is a gain, enter it as a positive number. If it is a loss, enter it as a negative number by putting a minus sign in front of it.)
• What is Harris adjusted basis in Land B?