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Dunder Company traded machinery with a book value of $1,080,000 and a fair value of...

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Accounting

Dunder Company traded machinery with a book value of $1,080,000 and a fair value of $1,800,000. It received in exchange from Kojack Company a machine with a fair value of $1,620,000 and cash of $180,000. Kojacks machine has a book value of $1,710,000. What amount of gain should Dunder recognize on the exchange (assuming lack of commercial substance)?

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