A fixed asset with a cost of $29,581 and accumulated depreciation of $26,623 is traded for a similar asset priced at $60,902 (fair market value) in a transaction with commercial substance. Assuming a trade-in allowance of $5,770, at what cost will the new equipment be recorded in the books? Oa. $58,090 Ob. $55,132 Oc. $63,860 Od. $60,902