ABC purchased a computer that cost $60,000 on March 31, 2014. This computer had an estimated useful life of six years and a salvage value of $6000. ABC determine depreciation expense based upon the sum of years' digits method (round all numbers to the nearest whole number and all percentages to the nearest 2 decimal places). On December 31, 2015, the old computer is exchanged for a similar computer with a fair market value of $40000. Assume this transaction lacks commercial substance. Determine the recognized gain/loss on the trade (if any) assuming each of the following independent scenarios:

	State (1) GAIN or LOSS and (2) AMOUNT of gain/loss
ABC paid $10,000 on the exchange
ABC paid $2000 on the exchange
ABC received $3000 on the exchange