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Question(s) / Instruction(s):

A company bought a new display case for $47,000 and was given a trade-in of $–13,000 on an old display case, so the company paid $60,000 cash with the trade-in. The old case had an original cost of $33,000 and accumulated depreciation of $30,000. If the transaction has commercial substance, the company should record the new display case at:
A.   $60,000
B.   $47,000
C.   $50,000
D.   $–13,000
E.   $44,000

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