Katie exchanges a building and land (used in its business) for Tyler's land and building and some equipment (used in its business). Adjusted Basis Fair Market Value Katie's real property $10,880 Tyler's real property 5,440 Tyler's equipment 4,896 $27,200 21,760 8,160 a. What are Katie's recognized gain or loss and basis for the land and building and equipment acquired from Tyler? Her recognized is $ her adjusted basis in the equipment is $ . Her adjusted basis in the land and building she acquired from Tyler is $ , and Feedback Check My Work b. What are Tyler's recognized gain or loss and basis for the land and building acquired from Katie? Tyler's recognized is $ , and his adjusted basis in the land and building he acquired from Katie is $