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
Correct Answer:
Verified
Correct Answer:
Verified
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