London Ltd exchanged equipment that had a book value of $40,000 for a truck that had a book value (in the other entity's books) of $38,000. The fair value of the equipment is $45,000, and the fair value of the truck is $48,000. Further cost incurred to prepare the truck for use by London Ltd was $700 for signage. What is the total acquisition cost of the truck in London Ltd's books?

Group of answer choices

$40 000

$48 700

$48 000

$45 700