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Leesburg sold a machine for $2,200 on November 10 th of the current year. The machine was purchased for $2,600. Leesburg had taken $1,200 of

Leesburg sold a machine for $2,200 on November 10th of the current year. The machine was purchased for $2,600. Leesburg had taken $1,200 of depreciation deductions on the machine through the date of the sale. What is Leesburg's gain or loss realized on the machine?

a.

$800 gain.

b.

$1,000 gain.

c.

$1,200 loss.

d.

$1,400 loss.

e.

None of these.

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