Wildcat Baseball Company Had a Player Contract with Carter That $\begin{array}{lll}&\text { Wildcat } & \text ~~~~~~~~~{ Aggie }\\ \hline\end{array}$

Wildcat Baseball Company had a player contract with Carter that was recorded in its accounting records at $5,800,000.Aggie Baseball Company had a player contract with Jeter that was recorded in its accounting records at $5,600,000.Wildcat traded Carter to Aggie for Jeter by exchanging each player's contract.The fair value of each contract was $6,000,000.What amount should be shown in the accounting records after the exchange of player contracts?
$\begin{array}{lll}&\text { Wildcat } & \text ~~~~~~~~~{ Aggie }\\ \hline\end{array}$

A) $ 5,600,000 $~~~~~~~~$ $ 5,600,000
B) $ 5,600,000 $~~~~~~~~$ $ 5,800,000
C) $ 5,800,000 $~~~~~~~~$ $ 5,600,000
D) $ 6,000,000 $~~~~~~~~$ $ 6,000,000