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An asset was purchased for $33,000 on January 1, 2019. The asset's estimated useful life was five years, and its residual value was $10,000. The
An asset was purchased for $33,000 on January 1, 2019. The asset's estimated useful life was five years, and its residual value was $10,000. The straight-line method of depreciation was used. Calculate the gain or loss if the asset is sold for $26,000 on December 31, 2019, the last day of the accounting period. O A. $2,400 loss OB. $2,400 gain O C. $1,200 gain OD. no gain or no loss
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