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Ngu owns equipment that cost $103,100 with accumulated depreciation of $70,400. Ngu asks $37,400 for the equipment but sells the equipment for $34,600. Compute the

Ngu owns equipment that cost $103,100 with accumulated depreciation of $70,400. Ngu asks $37,400 for the equipment but sells the equipment for $34,600. Compute the amount of gain or loss on the sale.

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