What is the recorded value of the new truck?
Huffington Company traded in an old delivery truck for a new one. The old truck had a cost of $82,000 and accumulated depreciation of $66,300. The new truck had an invoice price of $132,000. Huffington was given a $13,400 trade-in allowance on the old truck, which meant they paid $118,600 in addition to the old truck to acquire the new truck. What is the recorded value of the new truck?
| $132,000 | |
| $118,600 | |
| $134,300 | |
| $15,700 | |
| $82,000 |
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