Question: If boot is received in a 1 0 3 1 like - kind exchange and gain is recognized, which formula correctly calculates the basis for

If boot is received in a 1031 like-kind exchange and gain is recognized, which formula correctly calculates the basis for the like-kind property received?
a.
Adjusted basis of like-kind property surrendered + gain recognized fair market value of boot received.
b.
Fair market value of like-kind property surrendered + gain recognized + fair market value of boot received.
c.
Fair market value of like-kind property received postponed gain.
d.
Only a. and c.

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