Monarch exchanged its old equipment for new equipment. Monarch received $9,600 cash on the exchange. The fair value of the new equipment is $33,600. Original cost of old equipment $24,000 Accumulated depreciation on old equipment $14,400 If the transaction does not have commercial substance, at what amount should Monarch record the new equipment? Round to the nearest whole dollar. Do not include dollar signs, commas or decimals in your answer.