5:31 :87 min CALCULATOR BACK NEXT Question 42 A machine cost $1056000, has annual depreciation of $175000, and has accumulated depreciation of $836000 on December 31, 2020. On April 1, 2021, when the machine has a fair value of $242000, it is exchanged for a machine with a fair value of $1188000 and the proper amount of cash is paid. The exchange had commercial substance The gain to be recorded on the exchange is $0 $66000 $132000 $14000 SUBMIT ANSWER Question Attempts of 1 used