1 on 3,000 trade in 8) A machine that cost $40,000 and had been depreciated $30,000 was traded in machine of like purpose having an estimated 10-year life and priced at $50,000. If a $13,000 trade-in allowance was received on the old machine, at what amount should the new machine be recorded in the accounts a) $37,000 trade in: $13,000 b) $40,000 c) $47,000 depreciaron: $10,000 d) $50,000 e) $53,000 Final #14 allowance 50,000 3,000 $47,000