LiO Company Transferred an Old Asset with a $13,600 Adjusted

LiO Company transferred an old asset with a $13,600 adjusted tax basis in exchange for a new asset worth $11,000 and $1,500 cash. Which of the following statements is false?

A) If the exchange is taxable, LiO recognizes an $1,100 loss.
B) If the exchange is nontaxable, LiO recognizes no loss.
C) If the exchange is nontaxable, LiO's tax basis in the new asset is $12,100.
D) None of these statements is false.