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Marcus exchanges his current car with an adjusted basis of $55,000 (fair market value of $83,000) for another car with a fair market value of

Marcus exchanges his current car with an adjusted basis of $55,000 (fair market value of $83,000) for another car with a fair market value of $70,000 and $13,000 in cash. Given that both vehicles are for business use, what is the basis of Marcus' new property?

A) $83,000

B) $13,000

C) $55,000

D) $70,000

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