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Equipment was acquired for $207,000 and has accumulated depreciation of $86,000 business exchange is equipment for Newcomb in the new Quitman has a market value

Equipment was acquired for $207,000 and has accumulated depreciation of $86,000 business exchange is equipment for Newcomb in the new Quitman has a market value of 305,000 and the business pays $55,000 cash assume exchange has commercial substances change results in

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