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Question 2 0/2 pts Nirvana Company traded in a automatic pressing machine for a manual pressing machine owned by Dodson Company. These machines have similar
Question 2 0/2 pts Nirvana Company traded in a automatic pressing machine for a manual pressing machine owned by Dodson Company. These machines have similar future cash flows. Nirvana's old machine cost $355,998 and had a net book value of $182,025. The old machine had a fair value of $188,231. They received $51,074 boot in the deal. What is the amount of gain or loss from this transaction? If you calculate a loss, use a minus sign, i.e. -8000. If you determine the gain or loss can't be recognized, enter zero. Round any percentages used to two decimal places, i.e. 56.78%. You Answered 1,684 Correct answer 6,206 margin of error +/- 2
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