A fixed asset with a cost of $25,556 and accumulated depreciation of $23,000 is traded for a similar asset priced at $54,943 (fair market value) in a transaction with commercial substance. Assuming a trade-in allowance of $5,206, at what cost will the new equipment be recorded in the books?

a.$52,293 b.$57,499 c.$54,943 d.$49,737