Dallas Containers exchanged equipment with a fair value of $65,000 plus made a cash payment of $10,000 for equipment with a fair value of $75,000 owned by Brighton in 2020. The transaction has commercial substance. Dallas's equipment originally cost $200,000 and currently has a book value of $35,000. Brightons equipment had a net book value of $90,000 (original cost of $250,000.)

How much of a gain or loss did Dallas Containers report in its income statement for 2020? Question 14 options: a) $0 gain or loss b) $25,000 loss c) $3,529 gain d) $30,000 gain