Refer to the information in the preceding question.What are James's and Pete's recognized gains on the exchange,respectively?
A)0,0
B)0,$300,000
C)$100,000,0
D)$100,000,$400,000
E)None of the above

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The Answer of Refer to the information in the preceding question.What are James's and Pete's recognized gains on the exchange,respectively?
A)0,0
B)0,$300,000
C)$100,000,0
D)$100,000,$400,000
E)None of the above

Refer to the Information in the Preceding Question