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ABC Company decides to replace its old air conditioner unit. The air conditioner unit has a book value of $8,000 ($24,000 cost and $16,000 accumulated

ABC Company decides to replace its old air conditioner unit. The air conditioner unit has a book value of $8,000 ($24,000 cost and $16,000 accumulated depreciation) and it can be scrapped for $1,000. What is the Loss on Disposal of Property, Plant, and Equipment?

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