Business, 26.02.2020 05:25 sweetieval17oz0f8q

A company exchanged land with an appraised value of $50,000 and an original cost of $20,000 for machinery with a fair value of $55,000. Assuming that the transaction has commercial substance, what is the gain on the exchange?
A. $0
B. $5,000
C. $30,000
D. $35,000

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A company exchanged land with an appraised value of $50,000 and an original cost of $20,000 for mach...

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