I had just completed a problem like this and for some reason the old value of the equipment is not registering the same as before. Not sure what I am not understanding here

A company recently traded in an older model of equipment for a new model. The old model's book value was $257,000 (original cost of $547,000 less $290,000 in accumulated depreciation) and its fair value was $240,000. The company paid $67,000 to complete the exchange which has commercial substance. Required: Prepare the journal entry to record the exchange. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field