61. Prater Inc. enters into an exchange in which it gives up its warehouse on 10 acres of land and receives a tract of land. A summary of the exchange is as follows:

Transferred FMV Original Basis Accumulated Depreciation Warehouse $300,000 $225,000 $45,000 Land 50,000 50,000 Mortgage on warehouse 30,000 Cash 20,000 20,000 Assets received FMV Transferred FMV Original Basis Accumulated Depreciation Land $340,000 What is Prater’s realized and recognized gain on the exchange and its basis in the assets it received in the exchange?