Chastain Manufacturing exchanged a tract of land costing $150,000 for a tract of land with a fair value of $225,000. Chastain paid $25,000 in cash as part of the exchange agreement. There was no commercial substance to the transaction. How much gain or loss would Chastain recognize on the exchange? O $15,500 $155,000 $40,656 O $0 O $75,000