1. Blanche owns an acre of land in the Naples, Florida suburbs that she has held for investment purposes. She originally purchased the land in 1978 for $60,000 and it is now worth $250,000. Bill owns an investment in five acres of land in rural Pennsylvania. He paid $225,000 for the land that now is worth $180,000. Both parties come to terms and agree to exchange their holdings. What is Bills basis in the Naples, Florida property?