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Nicklaus Company has decided to sell one of its old machines on June 30, 2017. The machine was purchased for $200,000 on January 1, 2013,
Nicklaus Company has decided to sell one of its old machines on June 30, 2017. The machine was purchased for $200,000 on January 1, 2013, and was depreciated on a straight-line basis for 10 years with no salvage value. If the machine was sold for $65,000, what was the amount of the gain or loss recorded at the time of the sale? O a $55,000 b. $45,000. O c. $135,000 O d. $115,000
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