Malfoy Corporation recently traded a car for equipment. The car had an original cost of $50,000 and accumulated depreciation of $24,000. The car had a fair value of $21,000. The fair value of the new equipment was $35,000. Malfoy Corporation also paid $10,000. The transaction had commercial substance. Did Malfoy Corporation have a gain or loss on the exchange? (answer gain or loss.) 'A What is the amount of the gain or loss on the exchange (do not use dollar signs, commas or decimal points in your answer) A What will be the amount recorded by Malfoy for the new equipment? (do not use $ signs, commas or decimals in your answer) A Assume the same facts except that the transaction did not have commercial substance. What would be the amount recorded for the new equipment by Malfoy? (do not use $ signs, commas or decimals in your answer)