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

Old Equipment:	Book Value	Fair Value	Cash Paid
Case A	$50,000	$60,000	$15,000
Case B	$40,000	$35,000	$8,000

27. In Case A, Global would record the new equipment at:

A. $75,000.

B. $50,000.

C. $65,000.

D. $60,000.

28. In Case B, Global would record a gain/(loss) of:

A. $3,000.

B. $(5,000).

C. $5,000.

D. $(3,000).