Multiple Choice
A company decides to exchange its old machine and $77,000 cash for a new machine. The old machine has a book value of $63,000 and a fair market value of $70,000 on the date of the exchange. The cost of the new machine would be recorded at
A) $140,000.
B) $147,000.
C) $133,000.
D) cannot be determined.
Correct Answer:
Verified
Correct Answer:
Verified
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