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Sunset Co exchanged land with an appraised value of $50,000 and an original cost of $20,000 for machinery with a fair value of $55,000. Sunset

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Sunset Co exchanged land with an appraised value of $50,000 and an original cost of $20,000 for machinery with a fair value of $55,000. Sunset also paid $5,000 in cash to complete the exchange. Assuming that the transaction has commercial substance, what is the gain on the exchange? O$30,000 O $35,000 O $0 O $5,000

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