The cost of a nonmonetary asset acquired in exchange for another nonmonetary asset when the exchange has commercial substance is usually recorded at

the fair value of the asset given up$,$ and a gain but not a loss may be recognized. b$.$

The tain vatue of the asset given up$,$ and a gain or loss is recognized.

eithor the fair value of the asset given up or the asset received, whichever one results in the largest gain $($smallest loss$)$ to the company.

the fair value of the asset received if it is equally reliable as the fair value of the asset given up$.$