Question: Assume the same facts as in Exercise 10-20, except that the book value of the press traded in is $128,500. (a) What is the amount

Assume the same facts as in Exercise 10-20, except that the book value of the press traded in is $128,500.
(a) What is the amount of cash given?
(b) What is the cost of the new press for financial reporting purposes?

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