Cliff Company traded in an old truck for a new one. The old truck had a cost of $150,000 and accumulated depreciation of $75,000. The new truck had an invoice price of $166,000. Huffington was given a $71,000 trade-in allowance on the old truck, which meant they paid $95,000 in addition to the old truck to acquire the new truck. If this transaction has commercial substance, what is the recorded value of the new truck?

$75,000

$150,000

$95,000

$166,000

$170,000