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2. Avocado, Inc. purchased a $100,000 machine and deducted $70 before selling it for $80,000 (after holding it for more than 1 year) Avocado recognize?

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2. Avocado, Inc. purchased a $100,000 machine and deducted $70 before selling it for $80,000 (after holding it for more than 1 year) Avocado recognize? How is the gain classified? How is the gain classified if Avocado sells the machine for $120,00 How is the loss classified if Avocado sells the machine for $25,000

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