Below is information relative to an exchange of similar assets by Grand Forks Corp. Assume the exchange has commercial substance.

	Old Equipment		Cash
	Book Value	Fair Value	Paid
Case A	$50,700	$59,500	$14,300
Case B	$39,100	$34,100	$ 7,200

In Case B, Grand Forks would record a gain/(loss) of:

$ 5,000.

$ 2,200.

$(5,000).

$(2,200).