loss and the new al Thinking munications 9. LO.6 Determine the realized, recognized, and postponed gain or loss an basis for each of the following like-kind exchanges. $4,000 -0- 500 -0- In osobo -0- -O- Fair Market Value Boot Adjusted Basis of Old Asset Boot Given of New Asset Received $ 7,000 -O- $ 12,000 14,000 2,000 15,000 3,000 7,000 8,000 15,000 -0- 29,000 10,000 -0- 11,000 1,000 17,000 14,000 Create a Microsoft Excel spreadsheet thatby 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 the basis of like-kind property received. In separate tabs, the spreadsheet should apply the simplified method" and the "g 1031(d) method. Ignore the implications of debt and depre ciation. Test your spreadsheet using the data in this problem (and Problem 7). E-mail your spreadsheet to your instructor along with a brief summary of how you built the spreadsheet. loss and the new al Thinking munications 9. LO.6 Determine the realized, recognized, and postponed gain or loss an basis for each of the following like-kind exchanges. $4,000 -0- 500 -0- In osobo -0- -O- Fair Market Value Boot Adjusted Basis of Old Asset Boot Given of New Asset Received $ 7,000 -O- $ 12,000 14,000 2,000 15,000 3,000 7,000 8,000 15,000 -0- 29,000 10,000 -0- 11,000 1,000 17,000 14,000 Create a Microsoft Excel spreadsheet thatby 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 the basis of like-kind property received. In separate tabs, the spreadsheet should apply the simplified method" and the "g 1031(d) method. Ignore the implications of debt and depre ciation. Test your spreadsheet using the data in this problem (and Problem 7). E-mail your spreadsheet to your instructor along with a brief summary of how you built the spreadsheet