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Hank owns a gym called Ultimate FitnessDuring the past year, Hank sold some equipment and other assets to upgrade his facilityHe sold an elliptic $400
Hank owns a gym called Ultimate FitnessDuring the past year, Hank sold some equipment and other assets to upgrade his facilityHe sold an elliptic $400 cash plus a juicer machine worth $100. The elliptical trainer had an original cost of $1,500 and had accumulated depreciation for tax purposes o What is Hank's realized gain or loss on the sale? Loss of $200 Loss of $300 Loss of $1,000 Loss of $1,100
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