45) Glenn LLC exchanged land used in its business for some new land. Glenn originally purchased the land for $28,000. The new land had a fair market value of $35,000. Glenn also received $2,000 of office equipment in the transaction. What is Glenn's gain or loss recognized on the exchange?

A) $0.

B) $2,000.

C) $7,000.

D) $9,000.

E) None of the choices are correct.