Mantle Co. exchanged a used machine with Maris Co. for a similar machine with less use. Mantle's old machine originally cost $50,000 and had accumulated depreciation of $40,000, as well as a market value of $40,000, at the time of exchange. Maris; old machine originally cost $60,000 and at the time of the exchange had a book value of $30,000 and a market value of $32,000. Maris gave Mantle $8,000 cash as part of the exchange. The exchange lacked commercial substance. Mantle should record the cost of the new machine.