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Lassen Corporation sold a machine to a machine dealer for $35,000. Lassen bought the machine for $70,250 and has claimed $20,000 of depreciation expense on

Lassen Corporation sold a machine to a machine dealer for $35,000. Lassen bought the machine for $70,250 and has claimed $20,000 of depreciation expense on the machine.

What gain or loss does Lassen realize on the transaction?

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