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 $82,500 Transferred Warehouse Land Mortgage on warehouse Cash Original FMV Basis $ 470,000 $ 279,000 75,000 75,000 45,250 40,000 40,000 Assets Received Land FMV $539,750 What is 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