In a $1031$ exchange, Jennifer traded real property with an adjusted basis of $$16,000$ for other

real property with a fair market value of $$15,000.$ Jennifer also received $$4,000$ in cash. How

much gain does she recognize?

Select one:

a$.$ $$4,000$

b$.$ $$3,000$

c$.$ $$0$

d$.$ None of these