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Below is information relative to an exchange of similar assets by Grand Forks Corp. Assume the exchange has commercial substance. old Equipment Book Value Fair Value $ 49,200 $60,100 $40,200 $34,400 Cash Paid $14,500 $ 7,700 Case A Case B In Case A. Grand Forks would record the new equipment at: Multiple Choice $49,200 $74,600 $63,700. O $60,100