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Mayer Instrumentation sold a depreciable asset for cash of $490,000. The original cost of the asset was $1,580,000. Mayer recognized a gain of $61,000 on
Mayer Instrumentation sold a depreciable asset for cash of $490,000. The original cost of the asset was $1,580,000. Mayer recognized a gain of $61,000 on the sale. What was the amount of accumulated depreciation on the asset at the time of its sale? |
$1,151,000. | |
$429,000. | |
$1,519,000. | |
$1,212,000. |
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