Beeman Company exchanged machinery with an appraised value of $300,000, a recorded cost of $450,000 and accumulated depreciation of $230,000 with Lacey Corporation for machinery Lacey owns. Laceys machinery had an appraised value of $270,000, a recorded cost of $740,000, and accumulated depreciation of $400,000. Lacey also gave Beeman $30,000 in the exchange. Assume depreciation had already been updated.