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Luke has some data about a discontinued department. Prior to closing, its assets had combined accumulated depreciation of $30,000, combined balance sheet values of $70,000,
Luke has some data about a discontinued department. Prior to closing, its assets had combined accumulated depreciation of $30,000, combined balance sheet values of $70,000, and combined market values of $45,000 (realized at time of sale). The department's revenues totaled $42,000 and expenses totaled $38,000. The department:
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