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What cost should be assigned to the asset received

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Question - Aylmer Inc exchanged one asset for another.  The cost of the asset given up was $100,000 and the accumulated depreciation was $34,000. The fair value of the asset given up was $60,000. Aylmer paid $2,300 cash. If this transaction does not have commercial substance, what cost should be assigned to the asset received?

Reference no: EM133174697

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