Rosa Exchanges Business Equipment with a $60,000 Adjusted Basis for a Like-Kind

question 35

Multiple Choice

Rosa exchanges business equipment with a $60,000 adjusted basis for a like-kind piece of equipment with a $100,000 FMV and $20,000 of marketable securities.What is Rosa's basis for the new equipment?

• A)$60,000
• B)$80,000
• C)$100,000
• D)$120,000