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7. Alamos Co. exchanged equipment and $18,100 cash for similar equipment. The book value and the fair value of the old equipment were $80,800 and

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7. Alamos Co. exchanged equipment and $18,100 cash for similar equipment. The book value and the fair value of the old equipment were $80,800 and $90,200, respectively. Assuming that the exchange has commercial substance, Alamos would record a gain/(loss) of: $0. $27,500. $(9,400). $9.400

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