In an exchange of assets, Junger Co. received equipment with a fair value equal to the carrying amount of the equipment given up. Junger also contributed cash equal to 10% of the fair value of the exchange. If the exchange is not considered to have commercial substance, Junger should recognize:
-A loss equal to the cash (boot) given up.
-A loss determined by the proportion of cash paid to the total transaction value.
-A gain determined by the proportion of cash paid to the total transaction value.
-Neither gain nor loss