Marshall exchanged his timberland worth $59,000 (adjusted basis of $37,000 ) and a piece of equipment worth $16,400 (adjusted basis of $21,300 ) for Jennifer's condominium worth $75,400 (adjusted basis of $90,000 ). Assume the transaction qualifies for like-kind exchange treatment. What is Marshall's basis in his new condominium? $37,000$53,400$56,200$59,000$75,400 QUESTION 5 True or False: Based on the facts above, Marshall will recognize a $4,900 loss in the current year as. a result of this transaction. True False QUESTION 6 Continue with the example above. What are Jennifer's realized and recognized gain and/or loss in the current year as a result of this transaction? ($14,600) realized loss; ($14,600) recognized loss. ($14,600) realized loss; $16,400) recognized gain. ($14,600) realized loss; $0 recognized gain or loss. ($31,000) realized loss; $0 recognized loss. $74,400 realized gain; ($14,600) recognized loss