On the first day of the fiscal year, a new walk-in cooler with a list price of $55,200 was acquired in exchange for an old cooler and $44,300 cash. the old cooler had a cost of $44,000 and accumulated depreciation of $37,700. assume the transaction has commercial substance. a. determine the gain to be recorded on the exchange. $ b. journalize the entry to record the exchange. if an amount box does not require an entry, leave it blank.

You are working on a bid to build two city parks a year for the next three years. this project requires the purchase of $249,000 of equipment that will be depreciated using straight-line depreciation to a zero book value over the three-year project life. ignore bonus depreciation. the equipment can be sold at the end of the project for $115,000. you will also need $18.000 in net working capital for the duration of the project. the fixed costs will be $37000 a year and the variable costs will be $148,000 per park. your required rate of return is 14 percent and your tax rate is 21 percent. what is the minimal amount you should bid per park? (round your answer to the nearest $100) (a) $214,300 (b) $214,100 (c) $212,500 (d) $208,200 (e) $208,400