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$\text{'}$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$.$