Equipment that cost 578,000 and has accumulated depreciation of $61,750 is cxchanged for cquipmeat with a fair value of $31,200 and $7,800 cash is received. The exchange lacked commercial substance. a. How much is the gain or loss realized on the exchange (indicate gain or loss). b. How much is the gain or loss recogaized on the exehange (indicale gain or loss). c. Prepare the journal entry to record the exchange For the toolbac, press ALT+F10 (PC) or ALT+FN+FIO (AAaC)