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Alamos Co. exchanged equipment and $17,400 cash for similar equipment. The book value and the fair value of the old equipment were $80,400 and $91,000,

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Alamos Co. exchanged equipment and $17,400 cash for similar equipment. The book value and the fair value of the old equipment were $80,400 and $91,000, respectively. Assuming that the exchange has commercial substance, Alamos would record a gain/(loss) of: Multiple Choice $28,000 $0. $10.600. O $(10,600)

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