Equipment was acquired for $210,000 and has accumulated depreciation of $93,000. the business exchanges this equipment for new equipment. the new equipment has a market value of $304,000 and the business pays $52,000 cash. assume the exchange has commercial substance.

the exchange results in a:

(a) gain $187,000
(b) loss $187,000
(c) gain $135,000
(d) loss $135,000

(A) gain $187,000

Explanation:

Please see attachment .

commercial banking

provide online payment services

provide online banking

asset management firms

invest in people's funds in securities

accept tax return refunds

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