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Question(s) / Instruction(s):

A company purchased a machine valued at $66,000. It traded in an old (similar) machine for a $9,000 trade-in allowance, meaning the company paid $57,000 cash with the trade-in. The old machine cost $44,000 and had accumulated depreciation of $36,000. What is the recorded value of the new machine?

a.            $9,000

b.            $8,000

c.             $66,000

d.            $57,000

e.            $65,000

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