Theresa Perry exchanged her investment-use real property for a larger piece of investment-use property. At the time of the exchange, the fair market value (FMV) of the property she traded was $55,000, and her adjusted basis in this property was $27,000. She also provided $11,000 cash. In the exchange, she received investment-use property with an FMV of $66,000. What is Theresa's gain realized and the gain recognized on the exchange?    $0 and $28,000  $11,000 and $38,000  $28,000 and $0  $38,000 and $11,000

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