Use the following information for questions 21 to 24 Copier A has a fair market value of $180,000 that cost $220,000 and has accumulated depreciation of $120,000 is exchanged for a new copier with a list price of $300,000 and no cash is received. Assuming the exchange has commercial substance, the gain to be recognized from the exchange is $60,000 $40,000 $80,000 SO Question 22 (1.54 points) Use the following information for questions 21 to 24 Copier A has a fair market value of $180,000 that cost $220,000 and has accumulated depreciation of $120,000 is exchanged for a new copier with a list price of $300,000 and no cash is received. Assuming the exchange has commercial substance, the new copier should be recorded at $300,000. $100,000. $180,000. $120,000. Question 23 (1.54 points) Copier A has a fair market value of $180,000 that cost $220,000 and has accumulated depreciation of $120,000 is exchanged for a new copier with a list price of $300,000 and no cash is received. Assuming the exchange lacks commercial substance, the gain to be recognized from the exchange is $60,000 $40,000 $80,000 SO