Equipment was acquired for $252,000 and has accumulated depreciation of $192,000. The business exchanges this equipment for new equipment. The new equipment has a market value of 204,000 and the business pays $151,000 cash. Assume the exchange has commercial substance. The exchange results in ________.

A.

gain $7,000

B.

gain 144,000

C.

loss $7,000

D.

loss $ 140, 000