Question: Current Attempt in Progress A machine cost $1128000, has annual depreciation of $188000, and has accumulated depreciation of $893000 on December 31, 2020. On April

Current Attempt in Progress A machine cost $1128000, has annual depreciation of $188000, and has accumulated depreciation of $893000 on December 31, 2020. On April 1, 2021, when the machine has a fair value of $258500, it is exchanged for a machine with a fair value of $1269000 and the proper amount of cash is paid. The exchange had commercial substance. The new machine should be recorded at O $1151500 O $1010500. O $1269000. O $1245500

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