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MACRS (LO. 6) The United Express Company begins business in August 2019 by purchasing the assets listed in the table below. Asset Cost Trucks $588,000
MACRS (LO. 6) The United Express Company begins business in August 2019 by purchasing the assets listed in the table below. Asset Cost Trucks $588,000 Tractor units 55,000 Office equipment 466,000 The United Express Company sells a truck that cost $50,000 in 2019 for $15,000 in June 2022. Assume that none of the truck was expensed in 2019. Refer to the MACRS Depreciation Tables to answer the following questions. The adjusted basis of the truck is $ which results in a gain of $ from the sale
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