A Company Bought a New Display Case for $42,000 and Was

Multiple Choice

A company bought a new display case for $42,000 and was given a trade-in of $2,000 on an old display case,so the company paid $40,000 cash with the trade-in.The old case had an original cost of $37,000 and accumulated depreciation of $34,000.The company should record the value of new display case at:

A) $2,000
B) $3,000
C) $40,000
D) $42,000
E) $43,000