Question - Libya Corp. exchanged similar pieces of equipment with Burundi Corp. No cash was exchanged. Since this exchange will not significantly change the economic position of either company, this transaction lacks commercial substance. At this time, the net book value of Libya's asset is $40,000, while the net book value of Burundi's asset on their books is $37,000. However, it has been reliably determined that the fair value of Libya's asset is $41,000, while the fair value of Burundi's asset is $38,000. Given these facts, at what amount should Libya record the asset it receives from Burundi?