Below is information relative to an exchange of similar assets by Grand Forks Corp. Assume the exchange has commercial substance. Old Equipment Book Value Fair Value $50,500 $60,000 | $39,200 $34,200 Cash Paid $15,500 $ 9,000 Case A Case B In Case A, Grand Forks would record the new equipment at: Multiple Choice 0 $66,000. 0 $60,000. 0 $50,500. 0 $75,500