Renault Marina exchanged a boat with a cost of $80,000 (now 75% depreciated) for another boat with a current fair value of $27,000. No boot was paid or received. The new boat will perform the exact same function as the old boat. Renault should record the new boat at Answer $20,000 $27,000 $ 7,000 $ 0

                Renault Marina exchanged a boat with a cost of $80,000 (now 75% depreciated) for another boat with a current fair value of $27,000. No boot was paid or received. The new boat will perform the exact same function as the old boat. Renault should record the new boat at

Answer

		$20,000
		$27,000
		$  7,000
		$         0

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