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18. Rosa exchanges business equipment with a $60,000 adjusted basis for a like-kind piece of equipment with a FMV of $100,000 and $20,000 of marketable

18. Rosa exchanges business equipment with a $60,000 adjusted basis for a like-kind piece of equipment with a FMV of $100,000 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

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