Required Information The following information applies to the questions displayed below. Case A. Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $16.000 (original cost of $36.000 less accumulated depreciation of $20,000, and a fair value of $9.800. Kopono paid $28,000 cash to complete the exchange The exchange has commercial substance, Case B. Kapono Farms exchanged 100 acres of farmland for similar land. The farmland given had a book value of $540.000 and a fair value of $780,000. Kapono paid $58,000 cash to complete the exchange. The exchange has commercial substance 1. What is the amount of gain or loss that Kapono would recognize on the exchange of the land? 2. Assume the fair value of the farmland given 15. $432000 insteg 5780.000 who is the amount of gain or loss that Kapone would Hecognize on the exchange? What is the mal value of the newland B. Asume the same focts as Requirement 1 and that the exchanged commercial substance. What is the amount of gain or 1055 kapono would recognize on the exchange? Where navale of the new land? Complete this question by entering your answers in the tabs below. HA Pregled Required meunt on or loss that Kapone udge he exchange of the land