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 received $40,000 cash. Assume the exchange lacks commercial substance. What should Heritage Co. record as the cost of the new asset? Select one: a $166,000 b. 5176,000 c. $136,000 d. $130,000 e $160,000