On June 1, 2013, 4,000 shares of $10 par value common stock are issued in exchange for new equipment. Comparable equipment sells for $58,000 cash. Other shares of this class of common stock originally sold for $13 per share in 2010.

The journal entry to record this exchange should debit the Equipment account for what amount?

Select one:

A. $58,000

B. $40,000

C. $52,000

D. $-0-

E. None of the above