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cliff company traded in an old truck for a new one. the old truck had a cost of $79,000 and accumulated depreciation of $63,200. the new truck had an invoice price of $129,000. huffington was given a $12,640 trade-in allowance on the old truck, which meant they paid $116,360 in addition to the old truck to acquire the new truck. if this transaction has commercial substance, what is the recorded value of the new truck?
Sagot :
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