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Business, 22.04.2021 20:20 danielburke24

Richards, exchanged a piece of equipment with an original cost of $82,000, accumulated depreciation to date of$40,000, and a fair value of $46,000 for a similar piece of equipment. Cash flows are not expected to change significantly making the exchange as lacking commercial substance. The newly acquired equipment had a book value of $40,000 and a fair market value of $41,000. At what value should Richards record the newly-acquired equipment

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Richards, exchanged a piece of equipment with an original cost of $82,000, accumulated depreciation...
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