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A machine cost $1512000, has annual depreciation of $252000, and has accumulated depreciation of $1197000 on December 31 . 2025. On January 1, 2026, when

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A machine cost $1512000, has annual depreciation of $252000, and has accumulated depreciation of $1197000 on December 31 . 2025. On January 1, 2026, when the machine has a fair value of $346500, it is exchanged for a machine with a fair value of $1701000 and the proper amount of cash is paid. The exchange had commercial substance. The gain to be recorded on the exchange is $0 $189000 $31500 $6390

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