Michelle Walnut exchanges a business building with an adjusted basis of $148,000 and a fair market value of $210,000 for Grace Goodall's land (to be held for investment) with an adjusted basis of $90,000 and a fair market value of $300,000. Michelle assumes Grace's $90,000 mortgage on the land. a. Determine Michelle's realized gain or loss. b. Determine Michelles recognized gain or loss. c. Determine Michelles basis of the new property. d. Determine Grace's realized gain or loss. e. Determine Graces recognized gain or loss. f. Determine Graces basis of the new property.