A truck costs

$105,000

when new and has accumulated depreciation of

$100,000

. Suppose Jackson Towing exchanges the truck for a new truck. The new truck has a market value of

$57,000

, and Jackson pays cash of

$46,000

. Assume the exchange has commercial substance. What is the result of this exchange?\ A. No gain or loss\ B. Loss of

$6,000

\ C. Gain of

$52,000

\ D. Gain of

$6,000

A truck costs $105,000 when new and has accumulated depreciation of $100,000. Suppose Jackson Towing exchanges the truck for a new truck. The new truck has a market value of $57,000, and Jackson pays cash of $46,000. Assume the exchange has commercial substance. What is the result of this exchange? A. No gain or loss B. Loss of $6,000 C. Gain of $52,000 D. Gain of $6,000