Logan Logistics Ltd. has a fleet of delivery vehicles that are traded in when they reach 200,000 km. Truck #3846 is traded in for a new identical model #9929. The accounting records show the following data for this transaction:

#3346 cost = $80,000

#3346 accumulated depreciation = $67,500

Cash paid by Logan to seal the deal = $61,970

Sticker price (Manufacturers Suggested Retail Price) for # 9929 = $92,000

Required 1: What amount should #9929 be capitalized at?

Required 2: What is the net book value of the asset at the moment of the disposition?

Required 3: What gain (loss) will Condor show in accounting for the disposal of the asset?