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Find cost of the new office equipment would be recorded at

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Question 1: A company exchanges its old office equipment and $80,000 for new office equipment. The old office equipment has a book value of $56,000 and a fair value of $40,000 on the date of the exchange. The cost of the new office equipment would be recorded at

Option a. $136,000.

Option b. $120,000.

Option c. $96,000.

Option d. cannot be determined.

Reference no: EM132582347

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