A company's old machine that cost $45,000 and had accumulated depreciation of $34,500 was traded in on a new machine having an estimated 20-year life with an invoice price of $55,500. The company also paid $47,500 cash, along with its old machine to acquire the new machine. If this transaction has commercial substance, the new machine should be recorded at:

A company's old machine that cost $45,000 and had accumulated depreciation of $34,500 was traded in on a new machine having an estimated 20-year life with an invoice price of $55,500. The company also paid $47,500 cash, along with its old machine to acquire the new machine. If this transaction has commercial substance, the new machine should be recorded at: Multiple Choice $55,500. $10,500. $53,000 O $45,000. $53,000 $45,000. $58,000