Question

Coronado corporation traded a used truck for a new truck. The used truck cost 24,600 and has accumulated depreciation of20,910. The new truck is worth 53,050. Coronado also made a cash payment of40,590. What is the total value of the new truck and the cash payment?

1) $53,050
2) $40,590
3) $93,640
4) $74,640

Answer 1

The total value of the new truck and the cash payment made by Coronado Corporation is $93,640, which is calculated by adding the value of the new truck ($53,050) to the cash payment ($40,590).

Step-by-step explanation:

When Coronado Corporation traded a used truck for a new truck, accompanied by a cash payment, the total value of the transaction is calculated by adding the worth of the new truck to the cash payment made. The worth of the new truck is given as $53,050 and the cash payment made is $40,590. Therefore, the total value of the new truck and the cash payment is:

$53,050 (value of new truck) + $40,590 (cash payment) = $93,640

So, the correct answer is option 3) $93,640.