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Peter's company has decided to sell their forklift. The market value of the forklift is $35,000. He predicts that the book value is $30,000. Given

Peter's company has decided to sell their forklift. The market value of the forklift is $35,000. He predicts that the book value is $30,000.

Given this information, which of the following is true?

  • a.)

    Peter would record a loss for the sale of the forklift in the amount of $30,000.

  • b.)

    Peter would record a gain for the sale of the forklift in the amount of $30,000.

  • c.)

    Peter would record a loss for the sale of the forklift in the amount of $5,000.

  • d.)

    Peter would record a gain for the sale of the forklift in the amount of $5,000.

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