Hauswirth Corporation sold $($or exchanged$)$ a warehouse in year $0.$ Hauswirth bought the warehouse several years ago for $$114,000,$ and it has claimed $$24,200$ of depreciation expense against the building.

Required:

a$.$ Assuming that Hauswirth receives $$107,500$ in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale.

b$.$ Assuming that Hauswirth exchanges the warehouse in a like$-$kind exchange for some land with a fair market value of $$107,500,$ compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land.

c$.$ Assuming that Hauswirth receives $$39,000$ in cash in year $0$ and a $$76,000$ note receivable that is payable in year $1,$ compute the amount and character of Hauswirth's gain or loss in year $0$ and in year $1.$

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Assuming that Hauswirth receives $$107,500$ in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale.

Note: Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Round your final an$$wers to the nearest whole dollar amount.

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