Koch traded Machine 1 for Machine 2 when the fair market value of both machines was $49,650. Koch originally purchased Machine 1 for $75,700, and Machine 1's adjusted basis was $40,350 at the time of the exchange. Machine 2's seller purchased it for $64,650 and Machine 2's adjusted basis was $55,350 at the time of the exchange. What is Koch's adjusted basis in machine 2 after the exchange