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8. Kimberly Inc. exchanged $10,000 cash for a new asset with a $190,000 FMV. What is Kimberly's basis in the new asset if the transaction
8. Kimberly Inc. exchanged $10,000 cash for a new asset with a $190,000 FMV. What is Kimberly's basis in the new asset if the transaction qualifies as a like-kind exchange? an old asset (S180,000 FMV and $145,000 adjusted basis) plus A) $145,000 B) S155,000 C) $135,000 D) $190,000
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