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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 $54000 and a fair value of $89000. The asset given up by Cullumber Co. has a book value of $119000 and a fair value of $104000. Boot of $15000 is received by Cullumber Co.
What amount should Cullumber Co. record for the asset received?
$104000
$69000
$89000
$119000
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