A Company Purchased Equipment Valued at $66,000

Multiple Choice

A company purchased equipment valued at $66,000.It traded in old equipment for a $9,000 trade-in allowance and the company paid $57,000 cash with the trade-in.The old equipment cost $44,000 and had accumulated depreciation of $36,000.This transaction has commercial substance.What is the recorded value of the new equipment?

A) $8,000.
B) $9,000.
C) $57,000.
D) $65,000.
E) $66,000.