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Carlsen owned an office building for investment purposes on the south side of Chicago

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Carlsen owned an office building for investment purposes on the south side of Chicago. Matt's adjusted basis in the building was $75,000 and the fair market value (FMV) was $90,000. He exchanged his investment for other real estate held for investment with a FMV of $80,000. What is Matt's basis in the new building? A. $75,000 B. $80,000 C. $95,000 D. $90,000