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6. Book & Co. has a machine that cost $20,000,000 on January 1,2013 . This old machine had an estimated life of ten years with
6. Book \& Co. has a machine that cost $20,000,000 on January 1,2013 . This old machine had an estimated life of ten years with no salvage value, accumulated depreciation of $10,000,000 and has current fair value of $12,000,000. On December 31,2017 , Book exchanges the old machine plus $250,000 for a machine owned by Tomas with a fair value of $12,250,000. Tomas Inc. had purchased the machine for $15,800,000 and it has a accumulated depreciation of $4,800,000
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