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  3. a truck costs $50,000 when new and has accumulated

A truck costs $50,000 when new and has accumulated depreciation of $35,000. Suppose Wilson Towing...

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Accounting

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A truck costs $50,000 when new and has accumulated depreciation of $35,000. Suppose Wilson Towing exchanges the truck for a new truck. The new truck has a market value of $60,000, and Wilson pays cash of $40,000. Assume the exchange has commercial substance. What is the result of this exchange? O A. No gain or loss OB. Gain of $5,000 O C. Loss of $5,000 OD. Gain of $45,000

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