The Owner of M&N Milling Exchanged a Building Used in His

The owner of M&N Milling exchanged a building used in his business for a different building.M&N Milling's basis in the building was $200,000 and the owner still owes $60,000 related to the purchase of the building.The other party to the exchange, M.Grinding, assumed the liability along with the building and transferred a newer and smaller building worth $300,000 to M&N Milling. a. Calcul ate $M \& N$ Milling's
1. Realized gain on the exchange. $\quad$ $\quad$$\$$ _____
2. Recognized gain on the exchange. $\quad$$\$$ _______
b. Calculate the adjusted basis of the newer machine. $\quad$$\$$ ______