Calaveras Tire exchanged equipment for two pickup trucks. The book value and fair value of the equipment given up were $$23,000($original cost of $$69,500$ less accumulated depreciation of $$46,500)$ and $$18,500,$ respectively. Assume Calaveras paid $$9,500$ in cash and the exchange has commercial substance.

$(1)$ At what amount will Calaveras value the pickup trucks?

$(2)$ How much gain or loss will the company recognize on the exchange?