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Pensacola Inc. exchanged old equipment for new equipment in two exchange transactions. Each transaction has commercial substance. old Equipment Book Value Fair Value $73,000 $80,100

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Pensacola Inc. exchanged old equipment for new equipment in two exchange transactions. Each transaction has commercial substance. old Equipment Book Value Fair Value $73,000 $80,100 $60,400 $54,200 Cash Received $11,400 $10,100 Equipment A Equipment B For Equipment B, Pensacola would record a gain/(loss) of: Multiple Choice $(7.200). $(6,200) O $4,700. None of these answer choices are correct

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