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please show all work A H 1 A machine cost $2,400,000, has annual depreciation of $400,000, and has accumulated depreciation of $1,800,000 on 12/31/19. On
please show all work
A H 1 A machine cost $2,400,000, has annual depreciation of $400,000, and has accumulated depreciation of $1,800,000 on 12/31/19. On 4/1/20, when the machine 2 has a fair value of $550,000, it is exchanged for a machine with a fair value of $1,700,000 and the proper amount of cash is paid. The exchange had commercial 3 substance. 4 a. 5 The gain to be recorded on the exchange is 6 $0 7 b. $50,000 $100,000 9 d. $300,000 8 C. 10 11Step by Step Solution
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