tps:/e Cose A. Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $16.000 (original cost of The exchange has commercial substance. Required 1. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor? less accumulated depreciation of $20,000) and a fair value of $9.800. Kapono paid $28.000 cash to complete the exchange. 2. Assume the fair value of the old tractor is $22,000 instead of $9,800. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor? Complete this question by entering your answers in the tabs below. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor? Required 2 > Case B. Kapono Farms exchanged 100 acres of farmland for similar land. The farmland given had a book value of $540.000 and a fair value of S780000 Kanono naid $58.000 cash to complete the exchange. The exchanne has commercial substance