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.
-Refer to the information in the preceding question. What are Willow's and Tree's recognized gain or loss, respectively?

A) 0, 0
B) $50,000, $100,000
C) $50,000, $150,000
D) $75,000, $150,000
E) None of the above