Amachine cost $1,200,000, has annual depreciation of $200,000, and has accumulated depreciation of $950,000 on december 31, 2020. on april 1, 2021, when the machine has a fair value of $275,000, it is exchanged for a machine with a fair value of $1,350,000 and the proper amount of cash is paid. the exchange had commercial substance. the new machine should be recorded at:
a. $0.b. $25,000c. $50,000d. $150,000
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Amachine cost $1,200,000, has annual depreciation of $200,000, and has accumulated depreciation of $...
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