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 kin...

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Sandy owns a delivery van that she uses in her business. The van's FMV is $7,700, and

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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. Timâ 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?