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Frost Inc. exchanged Asset B with an unrelated entity for Asset Y plus $ 1 6 , 2 5 0 in cash. Frost's tax basis

Frost Inc. exchanged Asset B with an unrelated entity for Asset Y plus $16,250 in cash. Frost's tax basis in Asset B was $420,000, and Asset Y's appraised FMV was $530,000. Which statement is accurate?
a. If Asset B and Asset Y are like-kind, Frost recognizes no gain and takes a $420,000 basis in Asset Y.
b. If Asset B and Asset Y are not like-kind, Frost recognizes a $110,000 gain and takes a $530,000 basis in Asset Y.
c. If Asset B and Asset Y are like-kind, Frost recognizes a $16,250 gain and takes a $420,000 basis in Asset Y.
d. If Asset B and Asset Y are like-kind, Frost recognizes a $16,250 gain and takes a $436,250 basis in Asset Y.
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