A company purchased equipment valued at $294.000. It traded in old equipment for a $235.000 trade in allowance and the company paid $59.000 cash with the trade.in. The old equipment cost $280,000 and had accumulated depreciation of $56,000. This transaction has commercial substance What is the recorded value of the new equipment? Multiple Choice 5224,000 5235 000 590.000 o 52.000 520000