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Dentex Company purchased an x-ray machine on November 13, 2015. The original basis is $30,000. Dentex takes tax depreciation of $18,000 on the machine. Dentex

Dentex Company purchased an x-ray machine on November 13, 2015. The original basis is $30,000. Dentex takes tax depreciation of $18,000 on the machine. Dentex sells the x-ray on January 3, 2020, for $50,000. What are the tax effects of this transaction for Dentex? Group of answer choices Dentex has a 1231 gain of $38,000. Dentex has a 1231 loss of ($14,000). Dentex has a 1231 gain of $20,000; 1245 gain of $18,000. Dentex has a 1231 gain of $18,000; and a 1245 gain of $20,000.

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