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Please show how the steps needed in solving this question Mariano County traded in a used pickup for a new pickup truck with a sticker
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Mariano County traded in a used pickup for a new pickup truck with a sticker price of $44,000. The old pickup had a fair value of $26,000, historical cost of $45,000, and accumulated depreciation of $18,000. The dealer took the old truck and $15,000 for the new truck. The amount of gain or loss that should be recognized on this transaction in the government-wide financial statements is
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