QUESTION 19 Laura exchanged a building she owned with an adjusted basis of $2,500,000 for a similar building valued at $2,800,000. Laura also received cash in the exchange totaling $2,000,000. The transaction qualified as a like-kind exchange. What is Laura's recognized gain or loss on the exchange? a. S500,000 b. S2,300,000 c. SO d. $2,000,000