Question 10 of 10 -/1 = View Policies Current Attempt in Progress Equipment that cost $398,100 and has accumulated depreciation of $318,900 is exchanged for equipment with a fair value of $160,000 and $40,000 cash is received. The exchange lacked commercial substance. (a) Calculate the gain to be recognized from the exchange. Gain recognized $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 10 used Submit Answer IV