Below is information relative to an exchange of similar assets by Grand Forks Corp. Assume the exchange has commercial substance. 11 Old Equipment Cash Book Value Fair Value Paid $14,400 $ 7,800 $59,600 Case A $49,400 4 $39,300 Case B $34,900 points O1:51.20 In Case A, Grand Forks would record the new equipment at: Multiple Cholce $49,400. $59,600 $63,800 $74,000