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On December 31, 20x4, you purchase a building for $3091832. The buildings useful life is expected to be 39 years after which it will have
On December 31, 20x4, you purchase a building for $3091832. The buildings useful life is expected to be 39 years after which it will have a residual value of $552894. The straight-line method of depreciation is used. On December 31, 20x7, the building is sold for $2209078. What is the gain (loss) on sale of the building? Select one: a. $-687451 b. $-441781 c. $32256 d. $-644921
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