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ABC Co. exchanged machinery with an appraised value of $2,200,000, a recorded cost of $3,068,000 and accumulated depreciation of $1,085,000, for machinery that EFG Inc.

ABC Co. exchanged machinery with an appraised value of $2,200,000, a recorded cost of $3,068,000 and accumulated depreciation of $1,085,000, for machinery that EFG Inc. owns. EFG's machinery has an ap...

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