Required information [The following information applies to the questions displayed below. Metro Corp. traded Land A for Land B. Metro originally purchased Land A for $50,000 and Land A's adjusted basis was $25,000 at the time of the exchange. What is Metro's realized gain or loss, recognized gain or loss, and adjusted basis in Land B in each of the following alternative scenarios? (Loss amounts should be indicated by a minus sign. Input all other amounts as positive values. Leave no answer blank. Enter zero is applicable.) b. The fair market value of Land A and of Land B is $40,000. The exchange qualifies as a like-kind exchange. Amount Description (1) Amount realized from Land B (2) Amount realized from boot (cash) (3) Total amount realized (4) Adjusted basis (5) (6) (7) Deferred gain Adjusted basis in Land B