Company Cubs has Equipment A with a fair market value of $80,000. It cost $220,000 and has accumulated depreciation of $100,000. Equipment A is exchanged for a new equipment B and no cash is received or paid. The fair market value of Equipment A is 120,000 100,000 80,000 220,000 Question 19 (1.54 points) Company Cubs has Equipment A with a fair market value of $80,000. It cost $220,000 and has accumulated depreciation of $100,000. Equipment A is exchanged for a new equipment or paid. Company Cubs should recognize the gain or loss from the exchange $40,000 gain $20,00 gain $60,000 loss $40,000 loss Question 20 (1.54 points) Company Cubs has Equipment A with a fair market value of $80,000. It cost $220,000 and has accumulated depreciation of $100,000. Equipment A is exchanged for a new equipment B and no cash is received or paid. The new equipment B should be recorded at $200,000. $80,000. $160,000. $120,000