20. (TCO D) The substitute tax basis of property acquired in a like-kind exchange ____________________________ . is always the same as the basis of the property tendered in the exchange is always the same for the new owner as it was for the old, unless "boot" is involved is the same for the new owner as it was for the old, even if "boot" is involved is the market value of the substitute property, minus any deferred gain, or plus any deferred loss