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First Watch acquired equipment on October 1,2021 at a cost of $188,000. It has an estimated usefut life of 10 years, an estimated salvage value
First Watch acquired equipment on October 1,2021 at a cost of $188,000. It has an estimated usefut life of 10 years, an estimated salvage value of $12,000, and is depreciated by the straightline method. Assuming that the equipment was sold on July 1,2025 , for $73,500, the sale of the equipment would result in a Select one: a. Loss of $97,000 b. Loss of $66,100 c. Gain of $7,600 d. Loss of $48,500 e. Gain of $101
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