Logan and Jonathan exchange land, and the exchange qualifies as like$-$kind under $1031.$ Because Logan's land $($adjusted basis of $$190,500)$ is worth $$228,600$ and Jonathan's land has a fair market value of $$180,975,$ Jonathan als

a$.$ Logan's recognized gain is $

b$.$ Assume that Jonathan's land is worth $$205,740$ and he gives Logan $$22,860$ cash.

Logan's recognized gain is $