5.18 Xavier depreciates his machinery over 10 years using the straight-line method. On 31 December 2012 he
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5.18 Xavier depreciates his machinery over 10 years using the straight-line method. On 31 December 2012 he sold a machine which he had owned for exactly 7 years. Its original cost was £73 730. The sale proceeds were £30 000.
What is the profit or loss on the sale of the machinery?
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