Willis Company Trades in a Printing Press for a Newer

Willis Company trades in a printing press for a newer model.The cost of the old printing press was $60,000,and accumulated depreciation up to the date of the trade-in amounts to $40,000.The company also pays $40,000 cash for the newer printing press.The fair market value of the newer printing press is $70,000.The journal entry to acquire the new printing press will require a debit to Printing Press for:

A) $40,000.
B) $60,000
C) $70,000.
D) $100,000.