Kim owns storage bullding that is used exclusively in her business. The building has an adjusted basis of $11,500 (FMV $6,500). Kim transfers the building and $3,000 cash to David for an equipment (also used for business purposes) that has an FMV of $9,500. a. What is Kim's recognized gain or loss on the exchange? b. What Is Kim's adjusted basis in the storage building? . b. Basis of storage building