Five years ago, Jack purchased an Inu Corporation 15-year bond having a face value of $150,000 and paying 6% annual interest. In a "Type E" reorganization, Inu is going to exchange Jack's bond with 10 years remaining for a 5-year bond having a face value of $180,000 and paying 4% annual interest. Jack uses a 6% discount factor and is in the 25% tax bracket for all years. The capital gain rate is 15% for all years. Determine if this is an equitable exchange for Jack.