On March $1,2023,$ Grow$-$a$-$Lot traded in their forklift for a new fork$-$lift because the company's new facility is so much larger. Specifically, they exchanged their Ant$-$Man brand forklift $($with a remaining useful life of $2$ years, a max lifting capacity of $1,000lbs,$ a historic cost of $$22,000$ and accumulated depreciation of $$18,000)$ for a brand new GIGANTOR brand forklift. The GIGANTOR forklift has a lifting capacity of $24,000$ lbs$,$ a useful life of $12-$years, and a fair market value of $$63,000.$ Grow$-$a$-$Lot is receiving $$5,200$ in trade$-$in value for the Ant$-$Man forklift. According to