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A company purchased a printing press for $10,000, used it for 6 months, and sold it for S10,500 in the same year. Six months worth

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A company purchased a printing press for $10,000, used it for 6 months, and sold it for S10,500 in the same year. Six months worth of depreciation was calculated to be $700. What are the appropriate gains with respect to this transaction? Ordinary gain 200, 1231 gain 1000 Ordinary gain 700, 1231 poin. 500, 1231 gain 1200 Ordinary gain 500, 1231 gain 700 Ordinary gain 1200 Ordinary gain 1000, 1231 gain 200

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