In the Current Year,Keyaki Construction Company Exchanged an Old Truck,which

In the current year,Keyaki Construction Company exchanged an old truck,which cost $53,000 and had accumulated depreciation of $16,000,for a new truck having a fair market value of $65,000.In connection with the exchange,Keyaki paid $28,000 in cash.What is the tax basis of the new truck?

A) $37,000
B) $54,000
C) $65,000
D) $69,000
E) None of the above