On January 2, 2014, Rapid Delivery Company Traded in an Old

On January 2, 2014, Rapid Delivery Company traded in an old delivery truck for a newer model. The exchange lacked commercial substance. Data relative to the old and new trucks follow: What should be the cost of the new truck for financial accounting purposes?

A) $37,500.
B) $45,000.
C) $47,500.
D) $50,000.