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A company purchased computers for $200,000. The installation charge of the computer was $10,000. Initially, the declared salvage value was $40,000. However, the company decided
A company purchased computers for $200,000. The installation charge of the computer was $10,000. Initially, the declared salvage value was $40,000. However, the company decided to sell the computer in the middle of 3rd year because of changing production plan. Fortunately, another company agreed to buy that computer for $50,000. Determine the gain or loss, if MACRS depreciation is used.
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