On December $1,2020,$ Bonita Industries acquired new equipment in exchange for old equipment that it had acquired in $2017.$ The old equipment was purchased for $$218000$ and had a book value of $$85560.$ On the date of the exchange, the old equipment had a fair value of $$93000.$ In addition, Bonita paid $$288000$ cash for the new equipment, which had a list price of $$388000.$ The exchange lacked commercial substance. At what amount should Bonita record the new equipment for financial accounting purposes?

$$381000.$

$$373560.$

$$288000.$

$$388000.$