Bismarck and Altoona exchange buildings. The transaction has commercial substance. The following information was obtained: Bismarck's Building Altoona's Building Cost $60,000 $45,000 Accumulated Depreciation 20,000 Fair value based upon appraisal 50,000 20,000 40,000 The exchange was made, and based on the difference in appraised value, Altoona paid $10,000 to Bismarck The new building should be recorded on Bismarck's books at: Select one: O a. $35,000 O b. $32,000 O c. $40,000 O d. $38,000 O e. $50,000