China Inn and Midwest Chicken exchanged assets. Midwest Chicken received equipment and gave a delivery truck. The fair value and book value of the delivery truck given were $30,400 and $32,300 (original cost of $36,600 less accumulated depreciation of $4,300). respectively. To equalize market values of the exchanged assets, Midwest Chicken received $8,900 in cash from China Inn 1. At what amount did Midwest Chicken record the equipment? Equipment 2. How much gain or loss did Midwest Chicken recognize on the exchange