G\&G Inc. transferred an old asset with a $110,300 adjusted tax basis plus $20,000 cash in exchange for a new asset worth $150,000. Whic the following statements is false? The old asset's FMV is $150,000. If the exchange is nontaxable, GSG's recognized gain is - 0 . If the exchange is nontaxable, G6.G's tax basis in the new asset is $130,300. None of the statements is false