Steve transfers an office building with an adjusted basis of $200,000 and a fair market value of $300,000 for Arlenes office building (adjusted basis $190,000) with a fair market value of $250,000. Steve's mortgage of $120,000 is assumed by Arlene whose mortgage of $70,000 is assumed by Steve. What is the realized and recognized gain or loss for Steve and Arlene and what are their bases in their newly acquired buildings?