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Block Corporation purchased a depreciable asset at a cost of $200,000. The asset is expected to have a salvage value of $20,000 at the end

Block Corporation purchased a depreciable asset at a cost of $200,000. The asset is expected to have a salvage value of $20,000 at the end of its ten-year useful life. If the asset is depreciated three full years using the straight-line method, and then sold for $130,000, Block will have a gain on the sale of $4,000. true or false

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