Horton Stores exchanged land and cash of $4,900 for similar land. The book value and the fair value of the land were $88,900 and $100,000, respectively. Assuming that the exchange has commercial substance, Horton would record land-new and a gain/(loss) on exchange of assets in the amounts of: a. b. Land $104,900 $104,900 $ 93,800 $ 93,800 Gain/(loss) $ 0 $11,100 $ 0 $11,100 C. d