Horton Stores exchanged land and cash of $4,400 for similar land. The book value and the fair value of the land were $90,000 and $101,000, respectively. Assuming that the exchange lacks commercial substance, Horton would record land-new and a gain/(loss) on exchange of assets in the amounts of: a. b. Land $105,400 $105,400 $ 94,400 $ 94,400 Gain/(loss) $ $11,000 $ $11,000 C. d. Multiple Choice Option D Option A Option C Option B