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:

$\backslash$table$[[$Transferred$,$FMV$,\backslash$table$[[$Original$],[$Basis$]],\backslash$table$[[>$Accumulated$],[$Depreciation$]]],[$Warehouse$,$$$475,000,$$$320,000,$$$53,500$