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A fixed asset with a cost of $35,713 and accumulated depreciation of $32,142 is traded for a similar asset priced at $40,053. Assuming a trade-in
A fixed asset with a cost of $35,713 and accumulated depreciation of $32,142 is traded for a similar asset priced at $40,053. Assuming a trade-in allowance of $5,254, the cost basis of the new asset in a transaction with commercial substance is Select the correct answer. $1,683 $40,053 $5,254 $30,459
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