G&G IncTransferred an Old Asset with a $110,300 Adjusted Tax Basis

Multiple Choice

G&G Inc.transferred an old asset with a $110,300 adjusted tax basis plus $20,000 cash in exchange for a new asset worth $150,000.Which of the following statements is false?

A) The old asset's FMV is $150,000.
B) If the exchange is nontaxable,G&G's recognized gain is -0-.
C) If the exchange is nontaxable,G&G's tax basis in the new asset is $130,300.
D) None of the statements is false.