"Peaches exchanged a used truck (cost 40,000, accumulated depreciation 25,000) for a small car worth 13,300. Peaches also paid 5,000 in the transaction. If exchange has commercial substance loss or gain in this transaction would be: "

"Gain of $18,300"

"Gain of $6,700"

"Loss of $ 15,000"

"Loss of $ 6,700"