Whispering Inc. has negotiated the purchase of a new piece of automatic equipment at a price of $$9,760$ plus trade$-$in$,$ f$.$o$.$b$.$ factory: Whispering Inc. paid $$9,760$ cash and traded in used equipment. The used equipment had originally cost $$75,640$; it had a book value of $$51,240$ and a secondhand fair value of $$58,316,$ as indicated by recent transactions involving similar equipment. Freight and installation charges for the new equipment required a cash payment of $$1,342.$