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Sheridan Company received $ 102000 in cash and a used computer with a fair value of $ 327000 from Pharoah Company for Sheridan Company 's

Sheridan Companyreceived $102000in cash and a used computer with a fair value of $327000fromPharoah CompanyforSheridan Company's existing computer having a fair value of $429000and an undepreciated cost of $401400recorded on its books. The transaction has no commercial substance. How much gain shouldSheridanrecognize on this exchange, and at what amount should the acquired computer be recorded, respectively?

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