On January 2, 2014, York Corp. replaced its boiler with a more efficient one. The following information was available on that date: The old boiler was sold for $4,000. What amount should York capitalize as the cost of the new boiler?

Question

On January 2, 2014, York Corp. replaced its boiler with a more efficient one. The following information was available on that date:  The old boiler was sold for $4,000. What amount should York capitalize as the cost of the new boiler?

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The Answer of On January 2, 2014, York Corp. replaced its boiler with a more efficient one. The following information was available on that date:  The old boiler was sold for $4,000. What amount should York capitalize as the cost of the new boiler?