Two home builders agree to exchange plant assets. The substance.. An appraiser was hired and the following information is

Boaster

Beamer

Book value of asset given up

$50,000

$108,000

Fair market value of asset given up

80,000

100,000

Cash paid

20,000

In recording this exchange, Batson should recognize: a loss of $20,000. a gain of $20,000. a gain of $30,000. no gain or loss.

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