Noach Company Traded Machinery with a Book Value of $190,000

Multiple Choice

Noach Company traded machinery with a book value of $190,000 and a fair value of $180,000.It received in exchange from Hinrich Company a machine with a fair value of $200,000.Noach also paid cash of $20,000 in the exchange.Hinrich's machine has a book value of $190,000.What amount of gain or loss should Noach recognize on the exchange?

A) $20,000 gain
B) $ -0-.
C) $1,000 loss
D) $10,000 loss