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A machine cost $1104000, has annual depreciation of $184000, and has accumulated depreciation of $874000 on December 31 , 2025. On January 1, 2026, when

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A machine cost $1104000, has annual depreciation of $184000, and has accumulated depreciation of $874000 on December 31 , 2025. On January 1, 2026, when the machine has a fair value of $253000, it is exchanged for a machine with a fair value of $1242000 and the proper amount of cash is paid. The exchange had commercial substance. The gain to be recorded on the exchange is $138000 $0 $46000 $23000

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