On September 3, 2024, the Robers Company exchanged equipment with Phifer Corporation. The facts of the exchange are as follows: Robers Asset Phifers Asset Original cost $ 160,000 $ 180,000 Accumulated depreciation 87,000 95,000 Fair value 87,000 74,000 To equalize the exchange, Phifer paid Robers $13,000 in cash