On April 1, 2020, the Kentucky Company exchanged a truck for a forklift. The Kentucky Company also gave $2,500 cash. The exchange lacks commercial substance. On April 1, 2020, the truck had a fair value of $14,000. Its cost was $24,000 and its accumulated depreciation at April 1, 2020 was $13,800. The fair value of the forklift on April 1, 2020 was $16,500. Required: At what value should the forklift be recorded on the Kentucky Company's books at April 1, 2020