Ron Ryder and Joe Jetty exchanged like-kind business property. Ron had an adjusted basis of $30,000 in his property (fair market value of $33,000). Joe's property had an adjusted basis of $21,000 and a fair market value of $23,000, and Joe gave Ron $10,000 in cash. Determine Ron's and Joe's realized gain or loss, recognized gain or loss, and the basis in their new property. a. Ron's side of the transaction FMV of Property Received Mortgage Transfered / Boot Received Total Consideration Received Adjusted Basis Mortgaged Assumed / Boot Paid Gain Realized Gain Recognized Basis of New Property b. Joe's side of the transaction FMV of Property Received: Mortgage Transfered / Boot Received Total Consideration Received