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Sanders Corporation bought a warehouse several years ago for $500,000. On March 1, 2021 sells the warehouse for $275,000. Over the years and to the
Sanders Corporation bought a warehouse several years ago for $500,000. On March 1, 2021 sells the warehouse for $275,000. Over the years and to the date of sale, Sanders Corp had accumulated depreciation on the warehouse of $300,000. Determine the amount of gain or loss that Sanders Corporation has on the sale of the warehouse.
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