Grouper Corporation wishes to exchange a machine used in its operations. Grouper has received the following offers from other companies in the industry. 1. Monty Company offered to exchange a similar machine plus $30,360. (The exchange has commercial substance for both parties.) 2. Flounder Company offered to exchange a similar machine. (The exchange lacks commercial substance for both parties.) 3. Culver Company offered to exchange a similar machine, but wanted $3,960 in addition to Grouper's machine. (The exchange has commercial substance for both parties.) In addition, Grouper contacted Larkspur Corporation, a dealer in machines. To obtain a new machine, Grouper must pay $122,760 in addition to trading in its old machine.