A fixed asset with a cost of $31,142 and accumulated depreciation of $28,028 is traded for a similar asset priced at $55,794 (fair market value) in a transaction with commercial substance. Assuming a trade-in allowance of $5,988, at what cost will the new equipment be recorded in the books? Oa. $2,874 Ob. $25,154 Oc. $5,988 O d. $55,794