polnes Exchange of Similar Assets On May 1, 2021, Equipment with a Cost of $50,000 and Accumulated Depreciation of $40,000 is exchanged for similar Equipment with a cost of $60,000 and a trade in allowance of $15,000. What is the amount of the Gain or Loss on the Exchange? Gain of $5,000 b. Loss of $5,000 Gain of $10,000 Od Loss of $10,000 Moving to another question will save this response. 31 dtv Allock Ar A 50 00 DE 15 " 17 16 DO 8: " 10 1 On 1432