Liam owns a personal use boat that has a fair market value of $35,000 and an adjusted basis of $45,000. Liam's AGI is $100,000. Calculate the realized and recognized gain or loss assuming the boat is disposed of under the following independent scenarios: If an amount is zero, enter "0". a. Liam sells the boat for $35,000. The realized loss is $ -10,000 and the recognized loss is $ b. Liam exchanges the boat for another boat worth $35,000. The realized loss is 10,000 and the recognized loss c. The boat is stolen and Liam receives insurance proceeds of $35,000. Liam's realized loss is and the recognized loss d. Liam sells the boat. The fair market value and the selling price of the boat were $48,000. Liam's realized gain is $ 3,000 and the recognized gain is 3,000