Slate Co. and Talse Co. exchanged similar plots of land with fair values in excess of carrying amounts. In addition, Slate received cash from Talse to compensate for the difference in land values. The cash flows of the plots of land are not expected to be significantly different. As a result of the exchange, Slate should recognize
A. A gain equal to the difference between the fair value and the carrying amount of the land given up.
B. A gain in an amount determined by the ratio of cash received to total consideration.
C. A loss in an amount determined by the ratio of cash received to total consideration.
D. Neither a gain nor a loss.