$.$ Like$-$kind Exchange

Tesco Inc. and MW Company exchanged like$-$kind production assets $($for $1031$

purposes$).$ Teco's asset had an $$80,000$ FMV and $$53,900$ adjusted tax basis, and

MW$\text{'}$s asset had an $$87,500$ FMV and a $$28,100$ adjusted tax basis. Teco paid $$7,500$

cash to MW as part of the exchange.

$1$ What is Tesco$$s and MW$$s realized gain and recognized gain for tax purposes?

$2$ What is Tesco$$s and MW$$s tax basis in the newly acquired asset?

$[$Note: Please show your work on the above, so I can afford partial credit

as applicable. Preference is a well organized spreadsheet.$]$