Bloomington Inc. exchanged land for equipment and $2,400 in cash. The book value and the fair value of the land were $105,400 and $88,300, respectively. Bloomington would record equipment and a gain/(loss) of Equipment Gain/(loss) Multiple Choice 105,400 $(2.400) All of these answer choices are incorrect 85.900 $2,400 $85.900$17100)