Grant Exchanges an Old Pizza Oven from His Business for a New

Multiple Choice

Grant exchanges an old pizza oven from his business for a new oven.In addition to the old oven,which has a basis of $10,000,Grant pays $4,000 cash and takes out a loan on the new oven for $6,000.The new oven is valued at $22,000.What is Grant's recognized gain or loss due on this transaction?

A) $- 0 -
B) $2,000
C) $12,000
D) $16,000
E) $22,000