Horton Stores exchanged land and cash of $5,100 for similar land. The book value and the fair value of the land were $88,300 and $101,400, respectively. Assuming that the exchange lacks commercial substance, Horton would record landnew and a gain/(loss) on exchange of assets in the amounts of:

	Land				Gain/(loss)
a.	$	106,500			$	0
b.	$	106,500			$	13,100
c.	$	93,400			$	0
d.	$	93,400			$	13,100