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Calculate the gain or loss recognized and the character of the gain or loss. Please explain. Calculate net income if income before the transactions totaled

Calculate the gain or loss recognized and the character of the gain or loss. Please explain.

Calculate net income if income before the transactions totaled $50,000. Please explain.

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Selling Capital Gain Accum Depre Gain (Loss) 13000 1245 291 price 22000 1231 100000 Equipment Land Building Stock Cost 27000 87000 380000 180000 54000 420000 75000

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