Question: what the correct answer? A company's old machine that cost $40,000 and had accumulated depreciation of $22,000 was traded in on a new machine. The

what the correct answer?

what the correct answer? A company's old machine that cost $40,000 and

A company's old machine that cost $40,000 and had accumulated depreciation of $22,000 was traded in on a new machine. The old machine had a fair market value of $12,000. The company also paid $33,000 cash, along with its old machine to acquire the new machine. If this transaction has commercial substance, the new machine should be recorded at: a. $45,000. b. $18,000. O c. $33,000. d. $40,000

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