Mary exchanged an office building used in her business for some land. Mary originally purchased the building for $45,000 and it had an adjusted basis of $20,000 at the time of the exchange. The land had a fair market value of $40,000. Mary also gave $4,000 to the in the transaction. What is Mary's adjusted basis in the land after the exchange? . 0157 03 Multple Choice $36,000 None of the choices are correct $20,000 24,000 40.000