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Payor Inc. and Recipient Co. have an exchange with no commercial substance. The asset given up by Payor Inc. has a book value of P12,000 and a fair value of P15,000. The asset given up by Recipient Co. has a book value of P20,000 and a fair value of P19,000. Boot of P4,000 is received by Recipient Co. Payor Inc. should record the asset received at O P19.000 O P20,000 OP15,000 O P16,000 A had a machine with a carrying amount of P450,000. Company B had a delivery vehicle with a carrying f P300,000. Companies A and B exchanged the machine and vehicle, and Company B paid an additional cash as part of the exchange. Assume that the fair value of the delivery vehicle is P420,000. The exchange mercial substance. uch gain or loss should be recorded by Company A? 20,000 loss 120.000 gain 60.000 gain P30,000 loss