Hunter Sailing Company exchanged an old sailboat for a new one. The old sailboat had a cost of $100,000 and accumulated depreciation of $20,000. The new sailboat had an invoice price of $121,000. Hunter received a trade in allowance of $84,000 on the old sailboat, which meant the company paid $37,000 in addition to the old sailboat to acquire the new sailboat. If this transaction has commercial substance, what amount of gain or loss should be recorded on this exchange?

In which of the following games is it clearly the case that the cooperative outcome of the game is good for the two players and bad for society? a. two oil companies own adjacent oil fields over a common pool of oil, and each company decides whether to drill one well or two wells.b. two airlines dominate air travel between city a and city b, and each airline decides whether to charge a "high" airfare or a "low" airfare on flights between those two cities.c. two superpowers decide whether to build new weapons or to disarm.d. in all of the above cases, the cooperative outcome of the game is good for the two players and bad for society