Willow assumed the 150000 mortgage on trees building what

Reference no: EM13389578

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?

(Points : 5)

$75,000, 0

$75,000, $150,000

$225,000, $150,000

$225,000, $200,000

None of the above

Reference no: EM13389578

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