16. ABC Corporation traded-in old equipment with a new one. The original cost of the old equipment was $10,000. The accumulated depreciation of the old equipment at the time of trade-in was $8,500 On the other hand, the invoice price of the new equipment was $14,000. ABC was granted $2,000 trade-in-allowance for the old equipment and it paid the remaining amount in cash to acquire the new equipment How much cash did ABC pay to get the new equipment? (3 Points) $11,800 $12,000 $4,000 $12,500