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An asset was acquired on August 1, 2024, for $36,000 with an estimated five-year life and $3,000 residual value. The company uses straight-line depreciation.

An asset was acquired on August 1, 2024, for $36,000 with an estimated five-year life and $3,000 residual 

An asset was acquired on August 1, 2024, for $36,000 with an estimated five-year life and $3,000 residual value. The company uses straight-line depreciation. The company calculates partial-year depreciation based on the number of months the asset is in service. What is the gain or loss if the asset was sold for $22,000 on April 30, 20267 Multiple Choice $6,600 loss $9.900 gain $4,950 gain $2.450 loss

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