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Question 2 0/1 pts Desert Company is trading a machine which has an original cost of $60,272 and accumulated depreciation of $35,915 for a machine
Question 2 0/1 pts Desert Company is trading a machine which has an original cost of $60,272 and accumulated depreciation of $35,915 for a machine with a fair value of $28,712. Desert also paid $5,000 The exchange has commercial substance. What is the amount of gain or loss on the exchange Desert will report on its income statement? *round your answer to the nearest $1 **If gain, make it a positive number: 1000. If loss, make it a negative number: -1000. 9,355
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