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Consider an exchange of similar assets as follows: Book Value old fair value old cash paid for new 50000 60000 15000 The amount of

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Consider an exchange of similar assets as follows: Book Value old fair value old cash paid for new 50000 60000 15000 The amount of gain or loss based on this data set is: a. 3000 gain b. 10000 gain c. 5000 gain d. 5000 loss e. none of the above

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