Logan and Jonathan exchange land, and the exchange qualifies as like kind under 1031. Because Logan's land (adjusted basis of $140,500) is worth $168,600 and Jonathan's land has a fair market value of $133,475, Jonathan also gives Logan cash of $35,125.

a. Logan's recognized gain is $fill in the blank 1.

b. Assume that Jonathan's land is worth $151,740 and he gives Logan $16,860 cash. Logan's recognized gain is $fill in the blank 2.