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Canton Company owned an asset that had cost $44.000. The company sold the asset for 516,000. Accumulated depreciation on the day of sale amounted to

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Canton Company owned an asset that had cost $44.000. The company sold the asset for 516,000. Accumulated depreciation on the day of sale amounted to $32,000. Which of the following statements is true? Canton Company owned an asset that had cost $44.000. The company sold the asset for 516,000. Accumulated depreciation on the day of sale amounted to $32,000. Which of the following statements is true

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