On December 31, Strike Company has decided to trade in one of its batting cages for another one that has a cost of $588,186.00. The seller of the batting cage is willing to allow a trade in amount of $36,980.55. The initial cost of the old equipment was $273,930.00 with an accumulated depreciation of $232,840.50. Depreciation has been taken up to the end of the year. The difference will be paid in cash. What is the amount of the gain or loss in a transaction with commercial substance? Select the correct answer. Gain of $4,108.95 Loss of $4,108.95 Gain of $36,990.55 Loss of $36,980.55