1. Jenny, a dentist in Georgia, has owned her office building for 15 years. It currently has an FMV of $400,000. She has an adjusted basis in the building of $100,000. She decides to move her dental practice to Iowa and finds a dentist there, Andrew, who wishes to move to Georgia. They agree to trade ownership of their respective office buildings. The FMV of the office building in Iowa is $400,000 and Andrews adjusted basis in that building is $300,000. If Jenny later decides to retire from dentistry and she sells the office building for $800,000, how much of a gain must Jenny recognize (ignore any depreciation)?