Congaree Inc. engages in an exchange of similar assets. The old equipment has a book value of $$40,600$ and a fair value of $$35,400.$ Cash paid was $$8,200.$ The exchange has commercial substance. Calculate the gain $($loss$)$ Congaree Inc. would record on the exchange of assets.

$$3,000$

$$(3,000)$

$$5,200$

$$(5,200)$