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Joan bought a business Machine for $15,000 on January 1, 2010, and later sold the machine for $12,800, when the total allowable depreciation is $8500.
Joan bought a business Machine for $15,000 on January 1, 2010, and later sold the machine for $12,800, when the total allowable depreciation is $8500. The depreciation actually taken on the tax returns totaled $8000. Joan must recognize a gain or loss of: a) $6300 b) $5800 c) $4300 d) no gain or loss e) none of the above
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