Maud Exchanges a Rental House at the Beach with an Adjusted

Multiple Choice

Maud exchanges a rental house at the beach with an adjusted basis of $475,000 and a fair market value of $460,000 for a rental house at the mountains with a fair market value of $400,000 and cash of $60,000.What is the recognized gain or loss?

A) $0.
B) $50,000.
C) $60,000.
D) ($15,000) .
E) None of the above.