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A vehicle which cost $40,000 and has an accumulated depreciation of $37000 is sold for $5000. The resulting gain or loss is: a) Gain of
A vehicle which cost $40,000 and has an accumulated depreciation of $37000 is sold for $5000. The resulting gain or loss is:
a) Gain of $2000
b) Loss of $2000
c) Gain of $5000
d) Loss of $3000
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