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A company bought a new $66,000 heating system. The company paid $62,400 cash and was given a trade-in of $3,600 on an old heating system.

A company bought a new $66,000 heating system. The company paid $62,400 cash and was given a trade-in of $3,600 on an old heating system. The old system had an original cost of $59,700 and accumulated depreciation of $53,800. If the transaction has commercial substance, the company should record the new heating system at:

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