Question: Please read the question carefully: I am asking what is the basis of the property received, NOT GAIN OR LOSS. FIND BASIS OF THE PROPERTY

Please read the question carefully:

I am asking what is the basis of the property received, NOT GAIN OR LOSS. FIND BASIS OF THE PROPERTY RECEIVED ONLY

Molly exchanges land (adjusted basis of $85,000; fair market value of $78,000) used in her business and common stock held for investment (adjusted basis of $10,000; fair market value of $15,000) for a single parcel of land (fair market value of $93,000) to be used in her business in a like-kind exchange. What is Mollys basis in the property received?

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