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on October 1, 2020, Horizon link inc. purchased a new piece of equipment that cost $45000. the estimated useful life is eight years and estimated

on October 1, 2020, Horizon link inc. purchased a new piece of equipment that cost $45000. the estimated useful life is eight years and estimated residual Value is $2000. Assume that Horizon link uses the straight line method of depreciation and sells the equipment for $26500 on October 1, 2024. based on the result of the sale of the equipment, what gain (or loss) will horizon link realize?

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