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Planalto, Inc. sold a machine to a machine dealer for $51,300. Planalto bought the machine for $53,700 several years ago and has claimed $11,850 of

Planalto, Inc. sold a machine to a machine dealer for $51,300. Planalto bought the machine for $53,700 several years ago and has claimed $11,850 of depreciation expense on the machine. What is the amount and character of Planaltos gain or loss?

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