Chapter 11 Homework [myBusinessCourse] Due Thursday by 11:59pm Submitting an external tool E BusinessCourse Return to course (6) Support Dashboard (9) Lexi P Brence Assigning Value to Assets in Nonmonetary Exchange Lacking Commercial Substance Mariot trades in its old equipment (with the following carrying values) for new equipment. Mariot received $6,400 cash on the exchange. The fair value of the new equipment is $22,400. If the transaction lacks commercial substance, what amount does Mariot assign to the new equipment? Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Amount assigned to new equipment Marks for this submission: 0.00/7.14. Chapter 11 Homework [myBusinessCourse] Due Thursday by 11:59pm Submitting an external tool E BusinessCourse Return to course (6) Support Dashboard (9) Lexi P Brence Assigning Value to Assets in Nonmonetary Exchange Lacking Commercial Substance Mariot trades in its old equipment (with the following carrying values) for new equipment. Mariot received $6,400 cash on the exchange. The fair value of the new equipment is $22,400. If the transaction lacks commercial substance, what amount does Mariot assign to the new equipment? Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Amount assigned to new equipment Marks for this submission: 0.00/7.14