Nixon Inc. transferred Asset A to an unrelated party in exchange for Asset Z and $15,750 cash. Nixon's tax basis in Asset A wys $400,000, and Asset Z had a $510,000 appraised FMV. Which of the following statements is true? a. If Asset A and Asset Z are like-kind property. Nixon recognizes a $15,750 gain and takes a $400,000 basis in Assetz. b. If Asset A and Asset Z are not like-kind property, Nixon recognizes a $110,000 gain and takes a $510,000 basis in Asset Z. c. If Asset A and Asset Z are like-kind property, Nixon recognizes a $15.750 gain and takes a $415,750 basis in Asset Z. If Asset A and Asset Z are like-kind property, Nixon recognizes no gain and takes a $400,000 basis in Asset Z d. If Asset A and Asset Z are like kind property. Nixon recognizes a $15.750 gain and takes a $415,750 basis in Asset Z.