MrsLindt Exchanged 212 Shares of Nipher Common Stock for 773

Mrs.Lindt exchanged 212 shares of Nipher common stock for 773 shares of Newland common stock.Her basis in the Nipher stock was $49,200,and the fair market value of the Newland stock was $138,000.Which of the following statements about the exchange is true?

A) Mrs.Lindt's basis in her Newland stock is $138,000.
B) Mrs.Lindt recognizes no gain on the exchange because she did not receive any cash.
C) If the exchange is pursuant to a reorganization of Nipher and Newland,Mrs.Lindt recognizes no gain.
D) None of the above is true.