Hunter Sailing Company exchanged an old sailboat for a new one. The old sailboat had a cost of $280,000 and accumulated depreciation of $140,000. The new sailboat had an invoice price of $292,000. Hunter received a trade in allowance of $153,000 on the old sailboat, which meant the company paid $139,000 in addition to the old sailboat to acquire the new sailboat If this transaction lacks commercial substance, what amount of gain or loss should be recorded on this exchange? $0 gain or loss $13000 gain $13000 loss $140000 loss $153000 gain