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Problem 11-35 (LO 11-1) Lassen Corporation sold a machine to a machine dealer for $30,000. Lassen bought the machine for $54,000 and has claimed $12,000

Problem 11-35 (LO 11-1)

Lassen Corporation sold a machine to a machine dealer for $30,000. Lassen bought the machine for $54,000 and has claimed $12,000 of depreciation expense on the machine.

What gain or loss does Lassen realize on the transaction?

Loss Realized ______?

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