Elliot Mess exchanged a 12-unit apartment complex with Alfred Cappy for a 100-space mini warehouse property. Elliot also received cash of $5,000. The transaction is as follows:

Apartments:
Fair market value $ 480,000
Liability assumed by Alfred 200,000
Adjusted basis to Elliot 280,000
Mini warehouses: Fair market value $ 515,000
Liability assumed by Elliot 240,000

a. How much is Elliott's gain or loss recognized?
b. How much is Elliott's basis in the mini-warehouses?

Which two of the following are benefits of consumer programs

What should a food worker use to retrieve ice from an ice machine?

Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.