Below is the information relative to an exchange of assets by Sheffield Corporation. The exchange lacks commercial substance. Old Equipment Book Value Fair Value $464000 $523000 $277000 $251000 Case Case II Cash Paid $84500 $39500 Which of the following would be correct for Sheffield to record in Case II? Record Equipment at: Record again (loss) of: $277000 $13500 $316500 $26000 $277000 $(13500) $290500 $(26000)