Kapono farms exchanged an old tractor for a newer model. the old tractor had a book value of $15,500 (original cost of $35,000 less accumulated depreciation of $19,500) and a fair value of $9,700. kapono paid $27,000 cash to complete the exchange. the exchange has commercial substance. required: 1. what is the amount of gain or loss that kapono would recognize on the exchange? what is the initial value of the new tractor? 2. assume the fair value of the old tractor is $21,000 instead of $9,700. what is the amount of gain or loss that kapono would recognize on the exchange? what is the initial value of the new tractor?

An attorney came to work on a saturday. when he signed in, he was advised by the morning security guard employed by the building management that he must be out of the building by 5 p. m., when it closes. however, he stayed past 5 p. m. to complete a brief that had to be filed on monday morning. at 5: 15 p. m., the afternoon security guard set the locks on all the doors of the building and left. because she was in a hurry, she did not check the sign-in sheet to make sure that everyone had signed out, contrary to mandatory procedures. when the attorney tried to exit 15 minutes later, he discovered that the doors were all locked and could not be opened from the inside. he used his cell phone to call for , and a supervisor from the building arrived and let him out shortly thereafter. if the attorney sues the building management for false imprisonment, is he likely to win?