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Calaveras Tire exchanged machinery for two pickup trucks. The book value and fair value of the machinery were $21,000 (original cost of $66,500 less accumulated
Calaveras Tire exchanged machinery for two pickup trucks. The book value and fair value of the machinery were $21,000 (original cost of $66,500 less accumulated depreciation of $45,500) and $17,500, respectively. To equalize fair values, Calaveras paid $8,500 in cash. |
At what amount will Calaveras value the pickup trucks? |
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