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44. CPA- A company exchanged land with an appraised value of $50,000 and an original cost of $20,000 for machinery with a fair value of

44. CPA- A company exchanged land with an appraised value of $50,000 and an original cost of $20,000 for machinery with a fair value of $55,000. Assuming that the transaction has commercial substance, what is the gain on the exchange? a. $0 b. $5,000 c. $30,000 d $35,000

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