Question: Question 18 (4 points) Alamos Co. exchanged equipment for new equipment. Alamos also paid $17,000 cash in the exchange. The book value of the old

Question 18 (4 points) Alamos Co. exchanged equipment for new equipment.

Question 18 (4 points) Alamos Co. exchanged equipment for new equipment. Alamos also paid $17,000 cash in the exchange. The book value of the old equipment was $81,600 and fair value of new equipment was $108,000. Assuming that the exchange lacks commercial substance, Alamos would record a gain/(loss) of: a) $26,400 b) $ 9,400. Oc) $(9,400). d) $0

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