CHOICES:

1,900,000

1,880,000

1,960,000

1,560,000

A used delivery truck was traded in for a new truck. Information relating to the trucks follows: Used truck: Cost P1,600,000 Accumulated depreciation 1,200,000 New truck: List price 1,950,000 Cash price without trade-in 1,900,000 Cash price with trade-in 1,560,000 If the fair value of the used truck is P320,000, the cost of the new truck is O P1.900,000 O P1,880,000 O P1,960,000 non