3. The following information pertains to the acquisition of a six-wheeler truck by Mr. Scott who is a self-employed contractor. (12 points) Cost of the original truck traded in $20,000 Fair market value of original truck at a trade-in date 4,000 List price of new truck $25,000 Trade in allowance for old truck 6,000 Business use of both trucks is 100% Required: Compute the basis for the new truck