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Sheridan Corporation's plant was destroyed by a tornado. The plant had a cost of $ 5 4 7 0 0 0 and accumulated depreciation of

Sheridan Corporation's plant was destroyed by a tornado. The plant had a cost of $547000 and accumulated depreciation of $236000 at the time of the loss. The plant will not be rebuilt. They received $428000 from their insurance company. What amount of the gain or loss will be recorded?

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