Henry traded a truck with an adjusted basis of $4,000 and a fair market value of $6,000 for another truck that had a list price of $12,000. Henry also paid an additional $5,000 and was eligible for a $500 rebate that will be mailed to him. Both trucks will be or have been used in Henry's business. What is Henry's basis in the new truck?

1. $12,000

2. $10,500

3. $9,000

4. $8,500