Larkspur, Inc. exchanges old delivery equipment for new delivery equipment. The book value of the old delivery equipment is $36,900 (cost $66,400 less accumulated depreciation $29,500). Its fair value is $45,500, and cash of $5,300 is paid. Prepare the entry to record the exchange.

answer; /// that is so (false);

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

answer; situational irony;

answerdata mart;