The Old Forklift Was Purchased for $20,000 and Had a Book

The old forklift was purchased for $20,000 and had a book value of $5,000. On the date of the exchange, the old forklift had a market value of $6,000. In addition, Retread paid $18,000 cash for the new forklift, which had a list price of $25,000. It is expected that future cash flows will not change. At what amount should Retread record the new forklift for financial accounting purposes?

A) $23,000
B) $24,000
C) $20,000
D) $25,000