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In a nonmonetary exchange of equipment, if the exchange has commercial substance, the new equipment is recorded for: Multiple Choice fair value of the old

In a nonmonetary exchange of equipment, if the exchange has commercial substance, the new equipment is recorded for:

Multiple Choice

fair value of the old equipment given plus any cash received.

book value of the old equipment given plus any cash paid.

book value of the old equipment given plus any cash received.

fair value of the old equipment given plus any cash paid.

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