Multiple Choice
Roscoe receives real estate appraised at $200,000 and cash of $10,000 from Cathy in exchange for Roscoe's investment realty with a basis of $170,000. What is his basis in the new real estate?
A) $160,000
B) $170,000
C) $180,000
D) $200,000
E) $210,000
Correct Answer:
Verified
Correct Answer:
Verified
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