A machine that cost $40,000 and had accumulated depreciation of $30,000 was traded in on a new machine, which had an estimated 20-year life and a cash price of $50,000.If a $7,000 trade-in allowance was received on the old machine, the new machine should be valued at:

Question

Quizplus · Accepted Answer

The Answer of A machine that cost $40,000 and had accumulated depreciation of $30,000 was traded in on a new machine, which had an estimated 20-year life and a cash price of $50,000.If a $7,000 trade-in allowance was received on the old machine, the new machine should be valued at:

A Machine That Cost $40,000 and Had Accumulated Depreciation of $30,000