In a like$-$kind exchange, Melissa exchanged business$-$use real property $($FMV $$200,000,$ adjusted basis $$120,000)$ plus $$40,000$ for a larger piece of business$-$use property $($FMV $$240,000).$ What is her basis in the replacement property?

$$40,000$

$$120,000$

$$160,000$

$$200,000$