Kite Corporation wishes to trade equipment it owns for a vehicle owned by the Runner Corporation. Kite's equipment has a book value of $4,000 and a fair value of $4,500. Runner's vehicle has a book value and fair value of $5,100. Kite agrees to pay Runner $600 in cash in addition to giving up the equipment. What would be Kite's gain or loss on this exchange? a. $500 b. $100 c. $1,100 cl. $600