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18 Susan Songbird sold a computer used in her business for $550. She had purchased the computer three years ago for $950 and has correctly
18 Susan Songbird sold a computer used in her business for $550. She had purchased the computer three years ago for $950 and has correctly taken $300 in depreciation. How much and what type of gain or loss will Susan have on the sale?
a. $300 Section 1231 loss | ||
b. $100 Section 1231 loss | ||
c. $300 Section 1231 gain | ||
d. $100 Section 1231 gain |
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