Sandhill Corp. exchanged similar pieces of equipment with Elongo Corp. No cash was exchanged. Since this exchange will not significantly change the economic position of either company, this transaction lacks commercial substance. At this time, the carrying amount of Sandhill's asset is $37700, while the carrying amount of Elongo's asset on their books is $34500. However, it has been reliably determined that the fair value of Sandhill's asset is $36700, while the fair value of Elongo's asset is $34900. Given these facts, at what amount should Sandhill record the asset it receives from Elongo? $34500$34900$37700$36700