Pensacola Inc. purchased equipment on January 1, 2016 for $135,000. After 3 years Pensacola exchanged the equipment for a truck from Miami, Inc. in a non-monetary exchange. The balance in the Accumulated Depreciation account at the time of the exchange was $75,000 Assume the exchange lacks commercial substance At the time of the exchange the fair value of the equipment was $77,000 and the fair value of the truck was $57,000, Miami paid $20,000 cash/boot to Pensacola. What is the cost basis of the truck acquired by Pensacola? $44,415 $52,585 557,000 $40,000 None of the above