Sue exchanges a sport-utility vehicle (adjusted basis of $106,560; fair market value of $133,200) for cash of $19,980 and a pickup truck (fair market value of $113,220). Both vehicles are for business use. Sue believes that her basis for the truck is $113,220. Is Sue correct? Explain She must treat the transaction as a regular sale or exchange Therefore the basis of the new property is and Sue has a gain recognized gain of s Yes