Henrietta exchanged real property held for investment with a basis of $100,000 and a fair market...

Henrietta exchanged real property held for investment with a basis of $100,000 and a fair market value of $125,000 for other real property with a fair market value of $160,000 owned by Harry that Henrietta planned to hold for investment. She also transferred to Harry 100 shares of Piano, Inc. stock worth $25,000 with an adjusted basis of $15,000. Harry’s basis in his property was $200,000. How much is Henrietta’s realized gain and her recognized gain?

a. Realized gain: $10,000; Recognized gain: $10,000

b. Realized gain: $10,000; Recognized gain: $0

c. Realized gain: $45,000; Recognized gain: $10,000

d. Realized gain: $45,000; Recognized gain: $0

Based on the facts in question 41, how much gain or loss is recognized by Harry?

a. Recognized gain or loss: $0

b. Recognized gain: $10,000

c. Recognized gain: $25,000

d. Recognized loss of $25,000

e. None of the above is the correct answer.

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