Swifty Corporation traded machinery with a book value of $937650 and a fair value of $893000. It received in exchange from Cullumber Company a machine with a fair value of $1000160. Swifty also paid cash of $100016 in the exchange. Cullumber's machine has a book value of $937650. What amount of gain or loss should Swifty recognize on the exchange (assuming lack of commercial substance)?

$4465 loss

$100016 gain

$ -0-

$44650 loss