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Kultur Dokumente
accumulated depreciation of
$450,000. On April 1, 2015, when the machine has a fair value of $137,500, it is exchanged for a machine with a fair value of $675,000 and the
proper amount of cash is paid. The exchange has commercial substance.
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The new machine should be recorded on the company\'s books at
A)
$537,500.
B)
$612,500.
C)
$662,500.
D)
$675,000.
E)
Some other answer than those shown above.
Solution
d
$537,500 + $137,500
= $675,000