Equipment Was Acquired for $208,000 and Has Accumulated Depreciation of $94,000.The

Equipment was acquired for $208,000 and has accumulated depreciation of $94,000.The business exchanges this equipment for new equipment.The new equipment has a market value of $310,000 and the business pays $60,000 cash.Assume the exchange has commercial substance.The exchange results in ________.

A) loss $136,000
B) gain $196,000
C) gain $136,000
D) loss $196,000