A company's old machine that cost $47,000 and had accumulated depreciation of $36, 300 was traded in on a new machine having an estimated 20-year life with an invoice price of $57, 700. The company also paid $49, 300 cash, along with its old machine to acquire the new machine. If this transaction has commercial substance, the new machine should be recorded at: $10, 700. $60,000. $55, 400. $47,000. $57, 700