What is the basis of the new property in each of the following situations? What is the recognized gain or loss?

1. Rental house with an adjusted basis of $89,000 exchanged for a personal-use river cottage with an FMV of $113,500.
2. General Motors common stock with an adjusted basis of $19,500 exchanged for Quaker Oats common stock with an FMV of $15,750.
3. Land and building with an adjusted basis of $18,900 used as a furniture repair shop exchanged for land and a building with an FMV of $43,600 used as a car dealership.
4. An office building with an adjusted basis of $21,200 exchanged for a heavy-duty truck with an FMV of $25,400. Both properties are held for 100% business purposes.
5. A residential rental property held for investment with an adjusted basis of $232,000 exchanged for a warehouse to be held for investment with an FMV of $191,900.

(For all requirements, if no gain or loss is recognized, select "No gain/loss".)