Copier A has a fair market value of $180,000 that cost $220,000 and has accumulated depreciation of $120,000 is exchanged for a new copier with a list price of $300,000 and no cash is received. Assuming the exchange lacks commercial substance, the new copier should be recorded at $180,000. $120,000. $300,000 $100,000. Question 25 (1.54 points) On April 1, Mooney Corporation purchased for $1,624,500 a tract of land on which a warehouse and office building was located. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost Land $600,000 $560,000 Warehouse 400,000 360,000 Office building 800,000 680,000 Total $1,800,000 $1,600,000 What are the appropriate amounts that Mooney should record for the land, warehouse, and office building, respectively? Land, $600,000; warehouse, $400,000; office building, $800,000. Land, $541,500; warehouse, $361,000; office building, $722,000. Land, $568,575; warehouse, $365,513; office building, $345,206. Land, $560,000; warehouse, $360,000; office building, $680,000. Question 26 (1.54 points) Peterson Company purchased machinery for $800,000 on January 1, 2011. Straight-line depreciation has been recorded based on a $50,000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2015 at a gain of $15,000. How much cash did Peterson receive from the sale of the machinery? $115,000 $165,000 $215,000 $135,000