LO.2 Determine the realized, recognized, and postponed gain or loss and the new basis for each of the following like-kind exchanges. Adjusted Basis of Old Asset Cash Boot Fair Market Boot Given Value of New Received Asset a. $ 7,000 $ -0- $12,000 $4,000 b. 14,000 2,000 15,000 -0- C. 3,000 7,000 8,000 500 d. 15,000 -0- 29,000 -0- e. 10,000 -0- 11,000 1,000 f. 17,000 -0- 14,000 -0- g. Create a Microsoft Excel spreadsheet that-by entering the fair market value and basis of property given up and the fair market value of property received-will compute (1) realized gain or loss, (2) boot received, (3) boot given, (4) gain (loss) recognized, (5) gain (loss) deferred, and (6) the basis of like-kind property received. In separate tabs, the spreadsheet should apply the "simplified method" and the "alternative method." Ignore the implications of debt and depreciation.