A truck that cost $27,000 has been owned for 3 years and is traded for another truck for the same purpose. Total accumulated depreciation at the time of trade is $17,600. The trade-in value of the old truck is $9,000 and the new truck has a fair market value of $34,000, the new truck would be recorded at:

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The Answer of A truck that cost $27,000 has been owned for 3 years and is traded for another truck for the same purpose. Total accumulated depreciation at the time of trade is $17,600. The trade-in value of the old truck is $9,000 and the new truck has a fair market value of $34,000, the new truck would be recorded at:

A Truck That Cost $27,000 Has Been Owned for 3