A company's old machine, which cost $34,000 and had accumulated depreciation of $24,600, was traded in on a new machine of like purpose having an estimated 20-year life with an invoice price of $44,000. The company also paid $37,000 cash, along with its old machine to acquire the new machine. The value of new machine should be recorded at:

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The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.