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On January 1, 2017, Waterway Industries purchased for $720000, equipment having a useful life of ten years and an estimated salvage value of $48000. Waterway
On January 1, 2017, Waterway Industries purchased for $720000, equipment having a useful life of ten years and an estimated salvage value of $48000. Waterway has recorded monthly depreciation of the equipment on the straight-line method. On December 31,2025 , the equipment was sold for $147500. As a result of this sale, Waterway should recognize a gain of $0. $147500. $80300. $32300
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