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Required information. [The following information applies to the questions displayed beiow]. On August 1 of year 0, Dirksen purchased a machine for $20,000 to use

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Required information. [The following information applies to the questions displayed beiow]. On August 1 of year 0, Dirksen purchased a machine for $20,000 to use in its business, On December 4 of year 0 , Dirksen sold the machine for $18,000. Use MACRS Table. Note: Loss amounts should be indicated by a minus sign. Do not round percentages used for calculations. Leave no answers blank. Enter zero if applicable. a. What are the amount and character of the gain or loss Dirksen will recognize on the sale? Answer is complete but not entirely correct

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