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Peter Prentiss owns and operates a small printing shop and purchased a relatively high-speed press for his business several years ago at a cost of
Peter Prentiss owns and operates a small printing shop and purchased a relatively high-speed press for his business several years ago at a cost of $11,000. Last year, Peter sold the press for $3,000; he had claimed depreciation of $4,000. Which of the following amounts must Peter recapture as ordinary income
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