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On January 2, 2020, Sheridan Company replaced its boiler with a more efficient one. The following information was available on that date: $150500 10700 Purchase

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On January 2, 2020, Sheridan Company replaced its boiler with a more efficient one. The following information was available on that date: $150500 10700 Purchase price of new boiler Carrying amount of old boiler Fair value of old boiler Installation cost of new boiler 4600 19700 The old boiler was sold for $4600. What amount should Sheridan capitalize as the cost of the new boiler? O $150500. O $170200. $161200. O $165800

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