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pls answer Desert Company and Beach Company are exchanging machines. The exchange lacks commercial substance. The machine given up by Desert has a book value
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Desert Company and Beach Company are exchanging machines. The exchange lacks commercial substance. The machine given up by Desert has a book value of $70,408 and a fair value of $90,776. The machine given up by Beach has a book value of $120,910 Desert company pays $24,000 cash in the exchange What amount should Desert, Co. record as the historical cost of the new machine? around your answer to the nearest $1 Step by Step Solution
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