Pam exchanges a rental building, which has an adjusted basis of $$520,000,$ for investment land which has a fair market value of $$700,000.$ In addition, Pam receives $$100,000$ in cash. What is the recognized gain or loss and the basis of the investment land? How should Pam structure the transaction if she believes her marginal tax rate will increase in the future? How would the tax effects $($and your responses to the previous questions$)$ differ if Pam$$s rental building had a basis of $$900,000$ prior to the transaction?