At the beginning of 2022, Suarez Corp. traded in an old machine for a newer model, a change which had substance. The old machine originally cost $6,192,000, but had a book value at the time of the trade of $310,000 and a market value of $295,000. In addition to the old machine, Suarez Corp. also paid $118,000 for the trade. What did Suarez Corp. recognize as the book value of the new machine?

• $413,000
• $428,000
• $6,192,000
• $6,310,000