Marsha exchanged land in Florida that was used in her business for land in lowa that also was for use in her business. The land in Florida had an FMV of $52,700 and an adjusted basis of $40,000, and the land in lowa had an FMV of $57,700. Marsha also paid $5,000 cash in the transaction. What is Marsha's recognized gain on the transaction? OA. $0 B. $5,000 C. $12,700 O D. $17,700

Marsha exchanged land in Florida that was used in her business for land in lowa that also was for use in her business. The land in Florida had an FMV of $52,700 and an adjusted basis of $40,000, and the land in lowa had an FMV of $57,700, Marsha also paid $5,000 cash in the transaction, What is Marsha's recognized gain on the transaction? A. $0 B. $5,000 C. $12,700 D. $17,700