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mario ltd purchased a machine for $50,000 on the 1st january 2017. the machine was judged to have a five-year life with residual value of

mario ltd purchased a machine for $50,000 on the 1st january 2017. the machine was judged to have a five-year life with residual value of $5000. during 2019 the market for the product decline and the machine WAS SOLD on 1 january 2020 for $7,000. according to IAS 16, WHAT WAS THE LOSS ON THE DISPOSAL?

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