Bloomington Inc. exchanged land for equipment and $3, 600 in cash. The book value and the fair value of the land were $104, 300 and $88, 800, respectively. Bloomington would record equipment and a gain/loss of: Equipment Gain/Moss) All of these answer choices are incorrect. $85, 200 $(15, 500). $85.200 $3, 600. $104.300 $(3, 600)