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Blue inc. Purchases and assets for $100,000. The asset has a useful life of ten years and no salvage value. In year 6, Blue

Blue inc. Purchases and assets for $100,000. The asset has a useful life of ten years and no salvage value. In year 6, Blue inc. sold the assets for $60,000. What is the reported gain or loss for this transaction assuming straight-line depreciation.

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