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Assigning Value to Assets in Nonmonetary Exchange with Commercial Substance DD Inc. traded in its old building (costing $700,000 with accumulated depreciation of $200,000) for

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Assigning Value to Assets in Nonmonetary Exchange with Commercial Substance DD Inc. traded in its old building (costing $700,000 with accumulated depreciation of $200,000) for a new building with a fair value of $320,000 along with $160,000 cash from the trade. If the transaction has commercial substance, what amount does DD assign to the new building? Amount assigned to new building $ Check

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