Loki Company exchanges equipment with Thor Corp for a parcel of land. In addition, Thor Corp also pays $1,000 cash to Loki Company for the exchange. The following information pertains to the asset given up by each company: Loki Thor Original Cost $30,500 $15,500 Accumulated Depreciation $17,600 $0 Fair Value $15,000 $14,000 The exchange lacks commercial substance. A. What is the amount of gain or loss recognized by Loki Company? (A gain is positive, use a negative sign for a loss). Round to the nearest dollar. B. After the exchange, at what amount does Thor Corp record its new equipment? Round to the nearest dollar