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Mathematics, 02.11.2021 19:50 sherry59Sherry59

A fixed asset with a cost of $39,659 and accumulated depreciation of $35,693 is traded for a similar asset priced at $67,678 (fair market value) in a transaction with commercial substance. Assuming a trade-in allowance of $5,256, at what cost will the new equipment be
recorded in the books?

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