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I need help in this question. Please I have only 40 minutes. Please do it correctly and 100% and post complete and correct solution Doughbuddy,
I need help in this question. Please I have only 40 minutes. Please do it correctly and 100% and post complete and correct solution
Doughbuddy, Inc. bought a buffer for $350,000 and was depreciating it based on a life of eight years using the straight-line method. They assumed they would get a salvage value of $50,000. After three years, the buffer was sold for $250,000. From a tax perspective, state below on Blackboard whether this sale represents a recaptured depreciation, loss, or capital gain. Also state below how much, to the closest dollar, is the recaptured depreciation, loss, or capital gain
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