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31 . Peterson Company purchased machinery for $480 ,000 on January 1 2009 . Straight- line depreciation has been recorded based on a $30 ,000

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31 . Peterson Company purchased machinery for $480 ,000 on January 1 2009 . Straight- line depreciation has been recorded based on a $30 ,000 salvage value and a 5 - year useful life . The machinery was sold on May 1 2013 at a gain of $9 000 . How much cash did Peterson receive from the sale of the machinery A ) $81 000 B ) $69,000 Gangan DI $99000

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