Business, 22.04.2020 03:23 enrique764058

A truck costs $ 52 comma 000 when new and has accumulated depreciation of $ 40 comma 000. Suppose John Towing exchanges the truck for a new truck. The new truck has a market value of $ 70 comma 000, and John pays cash of $ 44 comma 000. Assume the exchange has commercial substance. What is the result of this exchange? A. No gain or loss B. Gain of $ 14 comma 000 C. Gain of $ 58 comma 000 D. Loss of $ 14 comma 000

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A truck costs $ 52 comma 000 when new and has accumulated depreciation of $ 40 comma 000. Suppose Jo...