Desert, Company exchanges equipment with an original cost of $150,000 and Accumulated Depreciation of $25,000 for a similar piece of equipment with a fair value of $112,000 and $42,000 cash is received. The exchange lacks commercial substance. Which of the following is correct for Desert to record for this exchange? O New Equipment: $112,000; Gain: $7,909 ONew Equipment: $90,909; Gain: $7,909 New Equipment: $83,000; Gain: $0 O New Equipment: $112,000, Gain: $29,000