Perry owns a building used in his business with an adjusted basis of $360,000 and a $675,000 FMV. He exchanges the building for a building owned by Darren. Darren's building has a 5975,000 FMV but is subject to a $300,000 liability. Perry assumes Darren's liability and uses the building in his business. Read the requirements Requirement a. What is Perry's realized gain? The realized gain is $ Requirement b. What is Perry's recognized gain? (If there is no recognized gain, make sure to enter "O" in the appropriate cell.) The recognized gain isS Requirement c. What is Perry's basis for the building received? Perry's basis for the building received is S