On January 2, 2020, Bramble Corp. traded in an old delivery truck for a newer model. The exchange lacked commercial substance Data relative to the old and new trucks follow: Old Truck Original cost Accumulated depreciation as of January 2, 2020 Average published retail value New Truck List price Cash price without trade-in Cash paid with trade-in $37500 37500 13700 $75900 65200 56800 What should be the cost of the new truck for financial accounting purposes? $56800 $56800 $75900 $48400