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how do i solve this? On December 31,2018 , Leno Inc. sold a used car for 5900,000cash. The original cost of the car was $5.0
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On December 31,2018 , Leno Inc. sold a used car for 5900,000cash. The original cost of the car was $5.0 million, and its accumulated depreciation equaled $4.2 million on December 31,2018 ; they had been using the straight-line depreciation method. The eatimated residual value was zero and its useful life was 25 years. What is the gain or loss on the car on December 31,2018 ? A. 5200,0001035 B. 5800,000gain C. $100,0001055 D. $100,000gain E. None of the aboveStep by Step Solution
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