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Lenoci Inc. paid $ 3 1 0 , 0 0 0 for equipment three years ago. This year, it sold the equipment for $ 2

Lenoci Inc. paid $310,000 for equipment three years ago. This year, it sold the equipment for $200,000. Through date of sale, accumulated book depreciation was $93,840 and accumulated tax depreciation was $147,327. Which of the following statements is true?

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