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Ngu owns equipment that cost $101,300 with accumulated depreciation of $69,200. Ngu asks $36,950 for the equipment but sells the equipment for $34,300. Compute the
Ngu owns equipment that cost $101,300 with accumulated depreciation of $69,200. Ngu asks $36,950 for the equipment but sells the equipment for $34,300. Compute the amount of gain or loss on the sale. |
$2,200 gain.
$4,850 loss.
$2,200 loss.
$4,850 gain.
$2,650 gain.
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