Redoubt LLC exchanged an office building used in its business for a manufacturing building to be used in its business. Redoubt originally purchased the office building for $800,000, and it had an adjusted basis of $530,000 at the time of the exchange. The manufacturing building had a fair market value of $620,000. Redoubt also received $70,000 of cash in the transaction

1. What is Redoubt's realized and recognized gain or loss recognized on the exchange?
2. What is Redoubts basis in the manufacturing building?