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Alamos Co. exchanged equipment and $17,800 cash for similar equipment. The book value and the fair value of the old equipment were $80,000 and $90,400,

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Alamos Co. exchanged equipment and $17,800 cash for similar equipment. The book value and the fair value of the old equipment were $80,000 and $90,400, respectively. Assuming that the exchange has commercial substance, Alamos would record a gain/loss) of: Multiple Choice 50. $28, 200. $(10,400). $10,400

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