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Equipment that cost $528000 and has accumulated depreciation of $240000 is exchanged for equipment with a fair value of $384000 and $96000 cash is

Equipment that cost $528000 and has accumulated depreciation of $240000 is exchanged for equipment with a fair value of $384000 and $96000 cash is received. The exchange lacked commercial substance. The new equipment should be recorded at O $384000. $192000. $240000. $230400.

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