Question: Nirvana Company traded in a automatic pressing machine for a manual pressing machine owned by Dodson Company. These machines have similar future cash flows. Nirvana

Nirvana Company traded in a automatic pressing machine for a manual pressing machine owned by Dodson Company. These machines have similar future cash flows. Nirvana's old machine cost $387,096 and had a net book value of $177,982. The old machine had a fair value of $187,059.They received $50,828 boot in the deal.

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