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5 of 7 On January 1,2025 , Nash Corporation sold a building that cost $266,270 and that had accumulated depreciation of $109,830 on the date
5 of 7
On January 1,2025 , Nash Corporation sold a building that cost $266,270 and that had accumulated depreciation of $109,830 on the date of sale. Nash received as consideration a \$256,270 non-interest-bearing note due on January 1, 2028. There was no established exchange price for the bullding, and the note had no ready market. The prevaling rate of interest for a note of this type on January 1.2025, was 9\%. At what amount should the gain from the sale of the building be reported? (Round foctor values to 5 decimal places, es. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) The amount of gain should be reported $ eTextbook and Media Assistance Used Attempts: 0 of 3 used (b) The garts of this question must be completed in order. This part will be available when you complete the part above Step by Step Solution
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