On December 31, 2015, Heritage Co. traded equipment with an original cost of $200,000 and accumulated depreciation of $30,000 for a new piece of equipment with a fair value of $160,000. In addition, Heritage Co. paid $40,000 cash. Assume the exchange lacks commercial substance. What should Heritage Co. record as the cost of the new asset? Select one: a. $200,000 b. $160,000 O c. $120,000 O d. $130,000 e. $170,000 An old truck, which cost $51,600 and was two-thirds depreciated, was exchanged for a tractor with a fair value of $52,000, $34,000 cash was paid for the tractor. The exchange had commercial substance. At what amount should the tractor be recorded? Select one: a. $85,600 b. $17,200 . c $$1,200 d. $51,600 e. $52,000