Saved pter 6-9 Help Save & Exit Submit Pursuant to the exchange, UMG assumed the mortgage on the Bapex property. Compute OGS gain recognizea on the exchange and its tax basis in the property received from Babex. Multiple Choice $175,000 gain recognized; $514,500 basis in Babex property. No gain recognized: $689,500 basis in Babex property, ( > No gain recognized: $514,500 basis in Babex property None of these choices are correct. K Prev 27 of 29 Next > Saved pter 6-9 Help Save & Exit Submit Pursuant to the exchange, UMG assumed the mortgage on the Bapex property. Compute OGS gain recognizea on the exchange and its tax basis in the property received from Babex. Multiple Choice $175,000 gain recognized; $514,500 basis in Babex property. No gain recognized: $689,500 basis in Babex property, ( > No gain recognized: $514,500 basis in Babex property None of these choices are correct. K Prev 27 of 29 Next >