A Company exchanged its old equipment for a new one. The old equipment had a book value of $6,000 and an accumulated depreciation of $15,000 at the date of disposal. The exchange results in a loss of $2,300 and the company paid cash of $5,000. What is the cost of the new equipment? * $8,700 $9,700 $13,300 $14,300 None of the above What was the cost of the old equipment? * $6,000 $17,000 $21,000 $22,300 None of the above What was the fair value of the old equipment? * O $3,700 O $6,300 O $6,700 O $8,300 O None of the above