Raymond Exchanges a Rental Lake House with an Adjusted Basis

Raymond exchanges a rental lake house with an adjusted basis of $200,000 and fair market value of $320,000 for a rental beach house with a fair market value of $290,000 and $30,000 cash.What are the recognized gain or loss and the basis of the beach house?

A) $120,000 gain and $320,000 basis.
B) $0 gain and $230,000 basis.
C) $30,000 gain and $200,000 basis.
D) $30,000 gain and $230,000 basis.