This year neils inc. exchanged a business asset for an investment asset. both assets had a $932,000 apprised fmv. neils's bok basis in the business asset was $617,250, and its tax basis was $592,500.

(a) compute neil’s book gain and tax gain assuming the exchange was a taxable transaction.
(b) determine neil’s book and tax basis of the investment asset acquired in the taxable exchange.
(c) compute neil’s book gain and tax gain assuming the exchange was a nontaxable transaction.
(d) determine neil’s book and tax basis of the investment asset acquired in the nontaxable exchange.