Brookside Market recently traded in store fixtures

The exchange had commercial substance. The old fixtures had a cost of $72,000 and accumulated depreciation of $66,000. Brookside paid $100,000 for the new store fixtures. These new fixtures had a market value of $127,000. There is a loss of $21,000 on this exchange.
Indicate whether the statement is true or false

FALSE .Market value of assets received: $127,000
Less:
Book value of asset exchanged $6,000
Cash paid 100,000 106,000
Gain $21,000