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On December 31, 2016, Hamilton Inc. sold a used industrial crane for $1,060,000 cash. The original cost of the crane was $5.30 million and its
On December 31, 2016, Hamilton Inc. sold a used industrial crane for $1,060,000 cash. The original cost of the crane was $5.30 million and its accumulated depreciation equaled $4.35 million on December 31, 2016. What is the gain or loss from the December 31, 2016 equipment sale? $110,000 gain $950,000 gain O $950,000 loss $110,000 loss
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