A firm acquired a $275,000 machine that has an 8 year life and A. $27,800 B. $0 C. $30,100 D. $54,800 E. $57,900 Multiple Choice $27,800 $30,100 $54,800 $57,900 residual value of 27,800. Depreciation is calculated using the straight-line method. The machine is sold at the end of the 9th year for 57,900. What is the gain or loss on the sale of this asset?

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