Crane Company exchanged machinery with an appraised value of $3,450,000, a recorded cost of $5,300,000 and accumulated depreciation of $2,650,000 with Nash Corporation for machinery Nash owns. The machinery has an appraised value of $3,285,000, a recorded cost of $6,300,000, and accumulated depreciation of $3,465,000. Nash also gave Crane $165,000 in the exchange. Assume depreciation has already been updated