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What is the fair value of the new equipment

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Question - Company X traded old equipment with Company Y for new similar equipment. The old equipment was originally purchased for $200,000, and had accumulated depreciation of $150,000. The fair value of the old equipment is $60,000. In order to equalize the fair values, Company X also paid $200,000 in cash.

Required - What is the fair value of the new equipment?

a. $200,000

b. $250,000

c. $260,000

d. $400,000

Reference no: EM132534936

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