Nash Corporation, which manufactures shoes, hired a recent college graduate to work in its accounting department. On the first day of work, the accountant was assigned to total a batch of invoices with the use of an adding machine. Before long, the accountant, who had never before seen such a machine, managed to break the machine. Nash Corporation gave the machine plus $401 to Crane Business Machine Company (dealer) in exchange for a new machine. Assume the following information about the machines. Nash Corp. (Old Machine) Crane Co. (New Machine) Machine cost $342 $319 Accumulated depreciation 165 -0- Fair value 101 502