Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $178,000. The appraised fair market value of the warehouse was $105,750, and the appraised value of the land was $199,750. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)
What is Bob's basis in the warehouse and in the land?
