byers manufacturing has equipment that costs 6 6 0 0 0 0 and has accumulated depreciaiton of 3 0 0 0 0 0 when the equipment has a fair value of 6 0 0 0 0 0 it is exchaned for equipment with a fair value of 4 8 0 0 0 0 and 1 2 0 0 0 0 cash is received. the exchange lacked commerical susbtance. the new equipment should be recorded at . . . 4 8 0 0 0 0 , 2 8 8 0 0 0 , 3 0 0 0 0 0 , or 3 6 0 0 0 0