b. C. d. Question 17 2.5 pts Bloomington Inc. exchanged land for equipment and $2100 in cash. The book value and the fair value of the land were $104,000 and $88,500, respectively. Assuming that the exchange has commercial substance, Bloomington would record equipment and a gain/(loss) on exchange of assets in the amounts of: Equipment Gain/(loss) $ 2100 $ (2100) $ (15,500) $ 86,400. $ 104,000 $ 86,400 None of these answer choices are correct. Assuming that the exchange has commercial substance, Bloomington would record equipment and a gain/loss) on exchange of assets in the amounts of: Equipment Gain/(loss) a. $ 86,400 $ 2100 b. $ 104,000 $ (2100) $ 86,400 $ (15,500) None of these answer choices are correct. d. Option A O Option B O Option C O Option D