I don't know what the value of that rifle is, but your best bet is to just go in and ask. My local gun store does me pretty good when I want to deal. As far trading out right, my store doesn't do trades. What they will do is look at what you have to offer and then buy it from you. Then they will cut you a check right there. After that you can purchase whatever you want or walk out with the check. And sometimes they will be more generous with the offer if they know you are buying something else.
The last few times I have done this I didn't have to pay any out of pocket money for what I wanted. I actually got change in both cases, not much though

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That being said, if you paid 600 for your rifle and the pistol is 550 I don't think you will get it without having to pay some out of pocket money. They are not going to give you what you paid for the rifle, no way no how. You would probably be better off selling it outright if you can do it.
Paul