What is the historical cost of an asset acquired as part of an exchange, assuming the exchange has commercial substance and that the fair value of the assets given up is less than its book value? (A 25)

		The book or fair value of the assets given up, whichever least impacts net income.
		The fair value of the assets given up, less any implicit loss.
		The book value of the assets given up
		The fair value of the asset given up.