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Company A exchanged equipment for similar equipment and received $ 1 5 , 0 0 0 in the exchange. The information about Company A '

Company A exchanged equipment for similar equipment and received $

15, 000

in the exchange. The information about Company A

\'

s old equipment is as follows:

Equipment

(

Original Cost

)

350, 000

Accumulated Depreciation

130, 000

Fair Value

240, 000

If the exchange lacks commercial substance, Company A would record a gain

/ (

loss

)

of:

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