A machine cost $1080000, has annual depreciation of $180000, and has accumulated depreciation of $855000 on December 31, 2020. On April 1, 2021, when the machine has a fair value of $247500, it is exchanged for a machine with a fair value of $1215000 and the proper amount of cash is paid. The exchange had commercial substance The gain to be recorded on the exchange is $0 $67500 $135000 $45000