Prater Inc. enters into an exchange in which it gives up its warehouse on 10 acres of land and receives a tract of land. A summary of the exchange is as follows: Accumulated Depreciation $67,000 Transferred Warehouse Land Mortgage on warehouse Cash Original FMV Basis $ 492,500 $ 273,000 60,000 60,000 52, 250 35,000 35,000 Assets Received Land FMV $445,250 What are Prater's realized and recognized gain on the exchange and its basis in the assets it received in the exchange? Realized gain Recognized gain Adjusted basis in new property