Soflo Inc. acquired a new delivery truck in exchange for an old delivery truck that it had acquired several years earlier for $50,000. On the date of the exchange, the old truck had a fair value of $20,000, and its net book value (carrying value) was $19,000. In addition, Soflo paid $65,000 cash for the new truck, which had a list price of $90,000. At what amount should Soflo record the new truck for financial accounting purposes?

$90,000

$84,200

$85,000

$65,000