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A company exchanges its old office equipment and $81000 for new office equipment. The old office equipment has a book value of $55300 and a
A company exchanges its old office equipment and $81000 for new office equipment. The old office equipment has a book value of $55300 and a fair value of $40000 on the date of the exchange. The cost of the new office equipment would be recorded at
a) 96300
b) 136300
c) 121000
d) cannot be determined
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