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A truck costs $53.000 wen now and has accumulated depreciation of $45.000. Suppose John Towing exchanges the truck for a new truck. The now truck

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A truck costs $53.000 wen now and has accumulated depreciation of $45.000. Suppose John Towing exchanges the truck for a new truck. The now truck has a market value of 560,000, and John pays cash of $46,000. Assume the exchange has commercial substance. What is the result of this exchange? O A No On or loss OB Loss of 50,000 C Gain of 352,000 OD. Gain of 50,000

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