On the first day of the fiscal year, equipment with a list price of $160,000 was acquired

Question:

On the first day of the fiscal year, equipment with a list price of $160,000 was acquired in exchange for similar equipment and $136,000 cash. The old equipment had a cost of $99,000 and accumulated depreciation of $79,000.
a. Determine the cost of the new truck for financial reporting purposes.
b. Journalize the entry to record the exchange.