Willow Corporation Exchanged Land Valued at $250,000 (Adjusted Basis =

Willow Corporation exchanged land valued at $250,000 (adjusted basis = $175,000) for a building owned by Tree Corporation valued at $350,000 (adjusted basis = $200,000) and $50,000 cash. In addition, Willow assumed the $150,000 mortgage on Tree's building. What are Willow and Tree's realized gains or losses on the properties exchanged, respectively?

A) $75,000, 0
B) $75,000, $150,000
C) $225,000, $150,000
D) $225,000, $200,000
E) None of the above