Question: Nirvana Company traded in a automatic pressing machine for a manual pressing machine owned by Dodson Company. These machines have similar future cash flows. Nirvana's

Nirvana Company traded in a automatic pressing machine for a manual pressing machine owned by Dodson Company. These machines have similar future cash flows. Nirvana's old machine cost $244,547 and had a net book value of $180,714. The old machine had a fair value of $191,143. They received $30000 boot in the deal.

What is the amount of gain or loss from this transaction?

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