On July 1, 2015, NorthCo exchanges two small pieces of equipment (A and B) for a larger one (C) from XYZ Co. XYZ Co. produces equipment and classifies all equipment as inventory. XYZ Co. has agreed to take the equipment A and B, and pay NorthCo $40,000 cash in exchange for the equipment C. Equipment C cost $179,000 to manufacture. Following is information regarding the exchange. NorthCo XYZ Co. Equipment A at cost_ $155,000 Accumulated depreciation, equipment, A 19,000 Fair value equipment A 140,500 Equipment B at cost 120,000 Accumulated depreciation, equipment, B 18,000 Fair value equipment B. 99,500 Fair value equipment C_ $200,000 Cash paid Cash received 40,000 40,000 Please make sure your final answer(s) are accurate to 2 decimal places.