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A fixed asset with a cost of $27,136 and accumulated depreciation of $24,422 is traded for a similar asset priced at $61,748. Assuming a

A fixed asset with a cost of $27,136 and accumulated depreciation of $24,422 is traded for a similar asset priced at $61,748. Assuming a trade-in allowance of $4,749, the cost basis of the new asset in a transaction with commercial substance is Select the correct answer $2.035 $22.387 $4.749 $61.748

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