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Strawberry Fields purchased a tractor at a cost of $ 5 4 , 0 0 0 and sold it two years later for $ 2
Strawberry Fields purchased a tractor at a cost of $ and
sold it two years later for $ Strawberry Fields recorded
depreciation using the straightline method, a fiveyear service
life, and an $ residual value. What was the gain or loss on
the sale?
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