Delta Enterprises trades an asset that costs $55,000 and had accumulated depreciation of $37,000 for another asset with a fair market value of $20,000. The exchange is deemed to lack commercial suhstance Delta pays $500 in cash Delta's asset has a fair market value of $19,500.13; Compute Delta's recognized gain or loss on the exchange r' $2,500 loss recognized r $2,500 loss realized but not recognized r' $1,500 gain recognized r $1,500 gain realized, but not recognized