Pensacola Inc. exchanged old equipment for new equipment in two exchange transactions. Each transaction has commercial substance. Equipment A Equipment B old Equipment Book Value Fair Value $74,100 $81,500 $61,500 $54,500 Cash Received $11,400 $ 9,500 For Equipment A. Pensacola would record the new equipment at: Multiple Choice $71,600 O $57,600 O $70,100 O