Question 3 (12 points) In 2022, Sasha and Peter entered into a 1031 like-kind exchange. Sasha exchanged an apartment building in Washington for Peter's apartment building in Oregon. Sasha's apartment building had a fair market value of $650,000 and an adjusted basis of $400,000. A $150,000 mortgage also encumbers Sasha's apartment building which Peter will assume. Peter's building has a fair market value of $500,000 and an adjusted basis of $200,000. a) What are Sasha's and Peter's realized and recognized gains and/or losses on the exchange (8 points)? b) What are Sasha's and Peter's bases in the new buildings acquired ( 4 points)