Sandy owns a delivery van that she uses in her business. The van's FMV is $7,700, and the adjusted basis is zero. She trades it for Tim's light truck. Tim s truck has a FMV of $6,700, and the adjusted basis is $4,300. Tim also is offering $1,000 cash for the trade. Assume that the exchange is like-kind. What is Sally's substituted basis in property received?

a. $0

b. $1,000

c. $7,700

d. $6,700

e. $8,700