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Sheridan Company traded machinery with a book value of $ 9 6 8 7 6 0 and a fair value of $ 8 9 7

Sheridan Company traded machinery with a book value of $968760 and a fair value of $897000. It received in exchange from Carla Vista Co. a machine with a fair value of $1040520. Sheridan also paid cash of $104052 in the exchange. Carla Vista's machine has a book value of $968760. What amount of gain or loss should Sheridan recognize on the exchange (assuming lack of commercial substance)?
$71760 loss
$-0-
$104052 gain
$7176 loss
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