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Crane Company purchased machinery for $1000000 on January 1, 2022. Straight-line depreciation has been recorded based on a $70000 salvage value and a 5-year useful

image text in transcribed Crane Company purchased machinery for $1000000 on January 1, 2022. Straight-line depreciation has been recorded based on a $70000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2026 at a gain of $18000. How much cash did Crane receive from the sale of the machinery? $182000. $282000. $142000. $212000

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