John owns a warehouse that has a fair market value of $125,000 and an adjusted basis of $62,000. He swaps his warehouse for Marks rental duplex, which has a fair market value of $100,000 and an adjusted basis of $47,000. In the exchange, Mark pays John $25,000 in cash. What is Johns recognized gain or loss and what is Johns basis in the acquired duplex, respectively?

a. $63,000; $100,000 c. $25,000; $62,000

b. $38,000; $75,000 d. $0; $37,000