Generally,the recorded cost of a nonmonetary asset acquired in exchange for some other nonmonetary asset is the book value of the asset that was given up.

Nonmonetary Asset

Nonmonetary assets are items of value owned by a company that cannot be directly converted into cash, such as property and equipment.

Book Value

The net value of a company's assets minus its liabilities, often used to assess whether a stock is under- or over-valued.