A fixed asset with a cost of $31,494 and accumulated depreciation of $28,345 is traded for a similat asset priced at 566,425 (fair market value) in a transaction with commercial substance. Assuming a trade-in allowance of $4,812, at what cost will the new equipment be recorded in the books? a. $66,425 b. 561,613 c. 564,762 d. 509,574