Calaveras Tire exchanged equipment for two pickup trucks. The book value and fair value of the equipment were $33,000 (original cost of $84,500 less accumulated depreciation of $51,500) and $23,500, respectively. Calaveras also paid $9,500 in cash. Assume the exchange has commercial substance. At what amount will Calaveras value the pickup trucks? How much gain or loss will the company recognize on the exchange?