A company's old machine, which cost $42,000 and had accumulated depreciation of $31,800, was traded in on a new machine of like purpose having an estimated 20-year life with an invoice price of $52,000. The company also paid $45,000 cash, along with its old machine to acquire the new machine. The value of new machine should be recorded at: $52,000 $10,000 $48,800 $55,200 $42,000