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 $10,000 cash. 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