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At what amount should cathy record her auto

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Question - Cathy exchanged her computer system costing $ 4000, book value $1500, FMV of $ 2000 for a used auto costing $ 5000, book value of $ 2500, FMV $ 2800.  In addition, she paid boot of $ 500. In this dealer to dealer exchange, at what amount should Cathy record her auto?

Reference no: EM131731646

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