Bloomington Inc. exchanged land for equipment and $3,200 in cash. The book value and the fair value of the land were $105,100 and $88,100, respectively. Assuming that the exchange has commercial substance, Bloomington would record equipment and a gain/(loss) on exchange of assets in the amounts of: a. b. C. d. Equipment $ 84,900 $105,100 $ 84,900 None of these answ