Question: 1: Question 11 (4 points) Below are listed data relative to an exchange of equipment by Pensacola Ine. Assume the exchange has commercial substance. Book

1: Question 11 (4 points) Below are listed data relative to an exchange of equipment by Pensacola Ine. Assume the exchange has commercial substance. Book value of old machine given up $73,000 Fair value of new machine received $70,300 Cash received by Pensacola $11.700 Pensacola would record the new equipment at: e 3: a) $70,300 b) 566,050 re4 Od $74,300 d) $82,000 age 5

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