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An asset was acquired on January 1, 2021, for $33,000 with an estimated four-year life and $2,000 residual value. The company uses straight-line depreciation. Calculate

An asset was acquired on January 1, 2021, for $33,000 with an estimated four-year life and $2,000 residual value. The company uses straight-line depreciation. Calculate the gain or loss if the asset was sold on December 31, 2023, for $10,600.

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