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3 Pensacola Inc. exchanged old equipment for new equipment in two exchange transactions. Each transaction has commercial substance. Old Equipment Book Value Fair Value $73,600

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Pensacola Inc. exchanged old equipment for new equipment in two exchange transactions. Each transaction has commercial substance. Old Equipment Book Value Fair Value $73,600 $81,100 $62,000 $55,300 Cash Received $12,100 $ 9,800 Equipment A Equipment B For Equipment B, Pensacola would record a gain/(loss) of: Multiple Choice $5,200. None of these answer choices are correct. $(6,700). $(7,700)

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