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Bramble Inc. and Cullumber Co . have an exchange with no commercial substance. The asset given up by Bramble Inc. has a book value of
Bramble Inc. and Cullumber Co have an exchange with no commercial substance. The asset given up by Bramble Inc. has a book value of $ and a fair value of $ The asset given up by Cullumber Co has a book value of $ and a fair value of $ Boot of $ is received by Cullumber Co
What amount should Cullumber Co record for the asset received?
$
$
$
$
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