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17. Sacajawea Company traded equipment with a carrying value of $720,000 and a fair value of $800,000. It received in exchange from Clark Company a

17. Sacajawea Company traded equipment with a carrying value of $720,000 and a fair value of $800,000. It received in exchange from Clark Company a machine with a fair value of $680,000 and $120,000 in cash.What amount of gain or loss should Sacajawea recognize on the exchange, assuming lack of commercial substance?

a.$12,000 gain

b.$80,000 gain

c.$0 gain

d.$80,000 loss

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