I dont understand how this is wrong, also need the answer to requirement 2.

Required information [The following information applies to the questions displayed below.) Cose A. Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $19.500 (original cost of $43.000 less accumulated depreciation of $23,500) and a fair value of $10,500. Kapono paid $35,000 cash to complete the exchange. The exchange has commercial substance. Cose B. Kapono Farms exchanged 100 acres of farmland for similar land. The farmland given had a book value of $575,000 and a fair value of $850,000, Kapono paid $65,000 cash to complete the exchange. The exchange has commercial substance 1. What is the amount of gain or loss that Kapono would recognize on the exchange of the land? 2. Assume the fair value of the farmland given is $460,000 instead of $850,000. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new land? 3. Assume the same facts as requirement 1 and that the exchange lacked commercial substance. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new land? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required ed 3 What is the amount of gain or loss that Kapono would recognize on the exchange of the land? $ Gain on exchange of assets Initial value of new land 340,000 X 915,000 Required Required 2 >