Exercise 13-35 (Algorithmic) (LO. 6) In June 2020, Sue exchanges a sport-utility vehicle (adjusted basis of $95,360; fair market value of $119,200) for cash of $17,880 and a pickup truck (fair market value of $101,320). Both vehicles are for business use. Sue believes that her basis for the truck is $101,320. Is Sue correct? Why or why not? As part of your response, compute Sue's realized gain or loss (and recognized gain or loss, if any) on the exchange. Yes She must treat the transaction as a regular sale or exchange Therefore the basis of the new property is . and Sue has a gain recognized gain of $