When a Plant Asset Is Traded in for a Dissimilar

When a plant asset is traded in for a dissimilar asset, the valuation of the new plant asset should be:

A) at the original cost of the old asset.
B) at the fair market value of the asset given up, or the asset received, whichever is more clearly evident.
C) at the replacement cost of the old asset.
D) at the value at which the new asset received was carried in the accounting records of the manufacturer.