USE THE FOLLOWING INFORMATION:

Motown Corporation trades in a delivery vehicle for a new delivery vehicle. Assume the transaction has commercial substance. The following information regarding the exchange is available:

$\backslash$table$[[$Cost of Motown's vehicle $($old$),,,$$$,59,000],[$Accumulated Depreciation $-$ Motown's vehicle $($old$),,$$$,2,200,],[$Fair value Motown's vehicle $($old$),,,$$$,39,000],[$List price of new vehicle $($new$),,,$$$,61,000],[$Trade in allowance for Motown's vehicle $($old$),,$$$,38,000,]]$

$26.)$ Compute the basis of the new vehicle to be recorded on Motown's books.