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Compute the the gain to be recorded on the exchange

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Question - A machine cost $360,000, has annual depreciation of $60,000, and has accumulated depreciation of $270,000 on December 31, 2012. On April 1, 2013, when the machine has a fair value of $82,500, it is exchanged for a machine with a fair value of $405,000 and the proper amount of cash is paid. The exchange lacked commercial substance. The gain to be recorded on the exchange is

A) $0.

B) $45,000 gain.

C) $7,500 loss.

D) $15,000 gain.

Reference no: EM131795144

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