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Lawler Clothing sold manufacturing equipment for $29,000. Lawler originally purchased the equipment for $93,000, and depreciation through the date of sale totaled $77,500. What was

Lawler Clothing sold manufacturing equipment for $29,000. Lawler originally purchased the equipment for $93,000, and depreciation through the date of sale totaled $77,500.

What was the gain or loss on the sale of the equipment?

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