Compute the fair value of the old equipment

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Reference no: EM131766045

Question: Alamos Co. exchanged equipment and $17,300 cash for similar equipment. The book value and the fair value of the old equipment were $81,200 and $91,000, respectively.

Assuming that the exchange has commercial substance, Alamos would record a gain/(loss) of:

$9,800.

$27,100.

$(9,800).

$0.

Reference no: EM131766045

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