points Save Answer Peyton has a real estate asset used in his business. He exchanges it for a like-kind real estate asset owned by Eli. The basis of Peyton's asset is $40,000 and he gives Eli $20,000 cash plus the asset in exchange for Ell's asset, which is worth $36,000. Eli's basis in his original asset is $10,000. What is Eli's gain or loss? O $20,000 gain recognized. O $26,000 gain realized and recognized. O $0 gain recognized. O $0 loss recognized