An old truck, which cost $51,600 and was one-third depreciated, was exchanged for a tractor with a fair value of $35,000; $5,000 cash was received in the exchange. The exchange lacked commercial substance. At what amount should the tractor be recorded? Select one: a. $39,400 b. $35,000 C. $30,100 d. $34,400 e. $29,400