Alamos Co. exchanged equipment and $17,100 cash for similar equipment. The book value and the fair value of the old equipment were $80,100 and $90,900, respectively.

Assuming that the exchangelackscommercial substance, Alamos would record a gain/(loss)on exchange of assets in the amount of:

Multiple Choice

• $27,900.
• $0.
• $10,800.
• $(10,800).