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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 $80,700 and $90,800,

Alamos Co. exchanged equipment and $17,800 cash for similar equipment. The book value and the fair value of the old equipment were $80,700 and $90,800, respectively. Assuming that the exchange lacks commercial substance, Alamos would record a gain/(loss) on exchange of assets in the amount of: $10,100. $(10,100) $0. $27.900

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