Clift Company traded in an old truck for a new one. The old truck had a cost of $200,000 and accumulated depreciation of $40,000. The new truck had an invoice price of $220,000 Huffington was given a $159,000 trade-in allowance on the old truck, which meant they paid $61,000 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