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A machine cost $1464000, has annual depreciation of $244000, and has accumulated depreciation of $1159000 on December 31, 2020. On April 1, 2021, when the

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A machine cost $1464000, has annual depreciation of $244000, and has accumulated depreciation of $1159000 on December 31, 2020. On April 1, 2021, when the machine has a fair value of $335500, it is exchanged for a machine with a fair value of $1647000 and the proper amount of cash is paid. The exchange had commercial substance. The new machine should be recorded at

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