Use the Following to Answer Questions

Multiple Choice

Use the following to answer questions
Oceanside Enterprises is trading in its old fishing vessel for a new model. The old fishing vessel is on the books at a cost of $364,000 with accumulated depreciation of $314,600. The new fishing vessel has a list price of $538,000 but the manufacturer has agreed to reduce this by $75,000 in return for Oceanside's old fishing vessel.
-The new fishing vessel should be recorded on the books at a cost of:

A) $538,000
B) $512,400
C) $463,000
D) $488,600