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Exact Photo Service purchased a new color printer at the beginning of Year 1 for $35,430. The printer is expected to have a four-year useful
Exact Photo Service purchased a new color printer at the beginning of Year 1 for $35,430. The printer is expected to have a four-year useful life and a $3,400 salvage value. The expected print production is estimated at $1,769,500 pages. Actual print production for the four years was as follows: Year 1 545,200 Year 2 482,600 Year 3 376,800 Year 4 392,900 Total 1,797,500 The printer was sold at the end of Year 4 for $3,700. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods.
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