Question 11 2 pts Glen Inc. and Armstrong Co. have an exchange with no commercial substance. The asset given up by Glen Inc. has a book value of $88,000 and a fair value of $60,000. The asset given up by Armstrong Co. has a book value of $80,000 and a fair value of $76,000. Boot of $16,000 is received by Armstrong Co. What amount should Glen Inc. record for the asset received? O $80,000 O $76,000 $60,000 O $64,000