Prater Incorporated 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:TransferredFMVOriginal BasisAccumulated DepreciationWarehouse$ $392,500$$ $311,000$$ $94,000$Land$90,50090,500$ Mortgage on warehouse$50,500$ Cash$23,00023,000$ Assets ReceivedFMVLand$ $455,500$What are Prater's realized and recognized gain on the exchange and its basis in the assets it