Multiple Choice Question 104 On December 31, 2015, Crane Company is in financial difficulty and cannot pay a note due that day. It is a $3100000 note with $310000 accrued interest payable to Wildhorse, Inc. Wildhorse agrees to accept from Crane equipment that has a fair value of $1450000, an original cost of $2410000, and accumulated depreciation of $1140000. Wildhorse also forgives the accrued interest, extends the maturity date to December 31, 2018, reduces the ace amount of the note to S2 00 , and reduce the interest rate to 5% with interest payable at the end of each year. Crane should recognize a gain on the partial settlement and restructure of the debt of O so O$422500 O $52250o. $62500 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Question Attempts: 0 of 1 used