In June $2023,$ Sue exchanges a sport$-$utility vehicle $($asjusted bask of $$140,160,$ fair market value of $$175,200)$ for cach of $$25,289$ and a pickup truck $($fair market value of $$148,920).$ Both vehicles are held for business wne. Sue believes that her basls for the thack is $1148,920.$

Is Sue correct? Why or why not? As part of your response, compute Sue's realred pain or loss $($ond any recogriand gain or loss$)$ on the exahange.

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Yes $x.$ She must treat the transaction as regular sale or exchanga? $x.$ Therefore the basls of the nem praperty is $1x$ and Sue has a recognized gain of In June $2023,$ Sue exchanges a sport$-$utility vehicle $($asjusted bask of $$140,160,$ fair market value of $$175,200)$ for cach of $$25,289$ and a pickup truck $($fair market value of $$148,920).$ Both vehicles are held for business wne. Sue believes that her basls for the thack is $1148,920.$

Is Sue correct? Why or why not? As part of your response, compute Sue's realred pain or loss $($ond any recogriand gain or loss$)$ on the exahange.

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Yes $x.$ She must treat the transaction as regular sale or exchanga? $x.$ Therefore the basls of the nem praperty is $1x$ and Sue has a recognized gain of