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An asset that costs $38,000 and has accumulated depreciation of $12,600 is sold for $20,700. What amount of gain or loss will be recognized when
An asset that costs $38,000 and has accumulated depreciation of $12,600 is sold for $20,700. What amount of gain or loss will be recognized when the asset is sold? Multiple Choice
A gain of $4,700.
A loss of $4,700.
A loss of $17,300.
A gain of $17,300.
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