O None Question 7 Tiger Company exchanges assets with Mickelson, Inc. Tiger exchanges equipment with a pook value of $13,000 and a fair market value of $35,000 for Mickelson's machinery with a book value of $15,000 and a fair market value of $30,000. Mickelson also paid Tiger $5,000 in cash. The exchange of assets has commercial substance. What is the amount of the gain recognized by Tiger Company? $5,000 O $15,000 O $17,000 $22,000 O No gain in recognized.

Question 7 Tiger Company exchanges assets with Mickelson, Inc. Tiger exchanges equipment with a vook value of $13,000 and a fair markst value of $35,000 for Mickelson's machinery with a book value of $15,000 and a fair market value of $30,000. Midebon also paid Tiger 55,000 in cash. The exchange of assets has commercial substance. What is the amount of the gain recogited by Tiger Compary? 55000 515000 $17000 522000 Noguin in recogerted