Janet is the business manager for Greenville Auto Mart. She buys a new car from the dealership for $35,000. The basis of the car to the dealership was $30,000. The car lists for $42,00, but the dealer would sell the car for $40,000. What is Janet's basis in the new car?
A)$30,000
B)$35,000
C)$40,000
D)$42,000
E)$47,000

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The Answer of Janet is the business manager for Greenville Auto Mart. She buys a new car from the dealership for $35,000. The basis of the car to the dealership was $30,000. The car lists for $42,00, but the dealer would sell the car for $40,000. What is Janet's basis in the new car?
A)$30,000
B)$35,000
C)$40,000
D)$42,000
E)$47,000

Janet Is the Business Manager for Greenville Auto Mart