HELP PLEASEEEE

Sheffield Corp. purchased the assets of Ivanhoe Company at an auction for $5610000. An independent appraisal of the fair value of the assets is listed below. Land Building Equipment Trucks $1770000 2870000 2070000 3500000 Assuming that specific identification costs are impracticable and that Sheffield allocates the purchase price on the basis of the relative fair values, what amount would be allocated to the Trucks? $2890000 51919355 $3451000 53500000 On December 1, 2020, Sheridan Company acquired new equipment in exchange for old equipment that it had acquired in 2017. The old equipment was purchased for $217000 and had a book value of $85560. On the date of the exchange, the old equipment had a fair value of $92000. In addition, Sheridan paid $287000 cash for the new equipment, which had a list price of $387000. The exchange lacked commercial substance. At what amount should Sheridan record the new equipment for financial accounting purposes? $287000 $372560 $387000 $379000