ompany exchanged equipment for similar equipment and 18 K c a s h . T h e b o o k a n d f a i r v a l u e o f t h e o l d e q u i p m e n t w e r e 52K and $60K, respectively . Assuming no commercial substance : A. Company would not record a gain or a loss B. Company would record a gain in the amount of 2.4K C. Company would record a gain in the amount of 4K D. Company would record a gain the amount of 8k