Use the Following Information for Questions

Use the following information for questions.
Glen Inc.and Armstrong Co.have an exchange with no commercial substance.The asset given up by Glen Inc.has a book value of $12,000 and a fair value of $15,000.The asset given up by Armstrong Co.has a book value of $20,000 and a fair value of $19,000.Boot of $4,000 is received by Armstrong Co.
-What amount should Armstrong Co.record for the asset received?

A) $15,000
B) $16,000
C) $19,000
D) $20,000