26. On January 2, 2020, Neeson Delivery Company traded in an old delivery truck for a newer model. Data relative to the old and new trucks follow:

Old Truck

Original cost................................................................... $ 9,000

Accumulated depreciation at January 2, 2020.................. 6,000

Fair value........................................................................ 3,000

New Truck

List price......................................................................... $ 15,000

Cash price without trade-in............................................. 14,000

Cash paid with trade-in................................................... 11,000

The cost of the new truck for financial accounting purposes is

a) $ 9,000.

b) $ 11,000.

c) $ 14,000.

d) $ 15,000.