[Solved] Kimbo Inc. exchanged an old asset ($180,000 FMV and $145,000 adjusted basis) plus $10,000 cash for a new asset with a $190,000 FMV. What is Kimbo’s basis in the new

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Kimbo Inc. exchanged an old asset ($180,000 FMV and $145,000 adjusted basis) plus $10,000 cash for a new asset with a $190,000 FMV. What is Kimbo’s basis in the new asset if the transaction qualifies as a like-kind exchange?
A) $145,000
B) $155,000
C) $135,000
D) $190,000


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