Bonita Industries traded machinery with a book value of $1110200 and a fair value of $1820000. It received in exchange from Carla Vista Co. a machine with a fair value of $1638000 and cash of $182000. Carla Vista’s machine has a book value of $1703520. What amount of gain should Bonita recognize on the exchange (assuming lack of commercial substance)? $182000 $709800 $ -0- $70980

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