I. Vieira company transferred an old asset with a 12300 adjusted tax basis in exchange for a new asset worth $20000. Which of the following statement is false?

a) if the exchange is taxable. I. Vieira's recognized gain is $7700

b) none of the statement is false.

c) The old asset's FMV is $20000

d) if the exchange is non taxable, I Viera's tax basis in the new asset is $12300