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Do not copy from Chegg. I need an answer with an explanation. Several years ago, Nipher paid $70,000 to purchase equipment to use in its
Do not copy from Chegg. I need an answer with an explanation.
Several years ago, Nipher paid $70,000 to purchase equipment to use in its business. This year, it sold the equipment for $76,500. Accumulated MACRS depreciation through date of sale was $18,000. Determine the amount of Nipher's Section 1231 gain recognized.
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