On december 1, 2020, kelso company acquired new equipment in exchange for old equipment that it had acquired in 2017. the old equipment was purchased for $210,000 and had a book value of $79,800. on the date of the exchange, the old equipment had a fair value of $84,000. in addition, kelso paid $273,000 cash for the new equipment, which had a list price of $378,000. the exchange lacked commercial substance. at what amount should kelso record the new equipment for financial accounting purposes?
a. $273,000.
b. $352,800.
c. $357,000.
d. $378,000.

R& m chatelaine is one of the largest tax-preparation firms in the united states. it wants to acquire the tax experts, a smaller rival. after the merger, chatelaine will be one of the two largest income-tax preparers in the u.s. market. what should chatelaine include in its acquisition plans? it should refocus its attention from the national to the international market. in addition to acquiring the tax experts, it should also determine the best way to drive independent "mom and pop" tax preparers out of business. chatelaine will need to explain to the federal trade commission how the acquisition will not result in an increase in prices for consumers. chatelaine should enter a price-based competition with its other major competitor to force it out of business and become a monopoly.